Fed audit measure seen winning in US Senate-Durbin

WASHINGTON, May 10 (BestGrowthStock) – A proposal to shed more
light on the U.S. Federal Reserve’s emergency lending during
the 2008-2009 financial crisis was “likely to prevail,” the
U.S. Senate’s No. 2 Democrat said on Monday.

Senator Richard Durbin said on the Senate floor that he
expected the proposal, offered by independent Senator Bernie
Sanders as an amendment to a Wall Street reform bill, would
come up for a vote on Tuesday and would likely be approved.

It would allow the Government Accountability Office, the
investigative arm of Congress, to conduct a one-time audit of
the central bank’s emergency lending activity during the
crisis, and require the Fed to make public information about
who it assisted with its lending.
Stock Market Report

(Reporting by Kevin Drawbaugh, Editing by Chizu Nomiyama)

Fed audit measure seen winning in US Senate-Durbin