United We Stand to Audit the Fed

United We Stand to Audit the Fed

Nation DC Editor Chris Hayes guest-hosts the Rachel Maddow show and reports on the “remarkable” showing from the Senate as they unanimously voted to audit the Federal Reserve.


For Tuesday night’s Rachel Maddow show, guest-host and Nation DC Editor Chris Hayes, reports on “something remarkable” that happened in Washington earlier that day. On Tuesday, the Senate voted 96-0 to add the “Audit the Fed” amendment to the financial regulatory reform bill. As Hayes explains, the Federal Reserve is the bankers’ bank and beginning in 2007 when the economy went into an “apocalyptic death spiral,” identifying how much money the Federal Reserve lent out—and to which banks—met a similar, apocalyptic death. In one instance, Federal Reserve Chairman Ben Bernanke flat-out refused to say which banks received money.

“The effort to combat that secrecy, and to account for the basic facts of who is getting how much money from the Fed, on what terms, has given rise to the ultimate strange bedfellows political coalition,” explains Hayes. “The Audit the Fed alliance includes lefty bloggers like Jane Hamsher, and the über-conservative right wing anti-tax crusader Grover Norquist…And now, remarkably, the Audit the Fed movement includes all of the 96 Senators who were present today.”

—Clarissa León

Dear reader,

I hope you enjoyed the article you just read. It’s just one of the many deeply reported and boundary-pushing stories we publish every day at The Nation. In a time of continued erosion of our fundamental rights and urgent global struggles for peace, independent journalism is now more vital than ever.

As a Nation reader, you are likely an engaged progressive who is passionate about bold ideas. I know I can count on you to help sustain our mission-driven journalism.

This month, we’re kicking off an ambitious Summer Fundraising Campaign with the goal of raising $15,000. With your support, we can continue to produce the hard-hitting journalism you rely on to cut through the noise of conservative, corporate media. Please, donate today.

A better world is out there—and we need your support to reach it.


Katrina vanden Heuvel
Editorial Director and Publisher, The Nation

Ad Policy