They don't have any business auditing the Fed because no taxpayer money has gone to the Fed from the US govt.
Why collect taxes if you can print the shit at will? Basic law of supply and demand --- too much of any particular widget and the price of the widget drops the dollar is a widget simple simple simple
How is transparency bad? Audit the Fed! They have already destroyed the US Dollar by continually increasing the money supply. Look up any 10 year chart with the US $ to any other major currency.
No, the line that shouldn't have been crossed was crossed when the Fed engineered the sale of Bear Stearns. Come to think of it, the line that shouldn't have been crossed was the establishment of the Fed in the first place. Now that our money and interest rates are centrally planned, I think it's only fair that we get a look into the process. Why should industry have to make everything transparent to the public but government institutions remain cloaked in secrecy?
BTW, I can't possibly be the only one who thinks Tiny Tim Geithner looks fishy. The guy looks about as trustworthy as a common street crook.
Now you're getting somewhere - social engineering, central planning, kickbacks to favored businesses and friends, punishing those who don't 'play ball', you know, real statesmanship.
If you own shares in a company, dont you have the right to look at the books? If a company is issuing trillions of shares the way the fed is issuing trillions of dollars, dont you think your shares are getting diluted? I know I want to know if my dollars are being diluted, dont you? And actually they do get taxpayer money. When the government wants say 50 billion dollars, they sell 50 billion in bonds to the fed. Then they have to pay the fed money (from TAXPAYER revenue) to pay the interest on the bonds.