House Bill Would Put Fed Under Magnifying Glass

Law360, New York (May 15, 2009, 12:00 AM EDT) -- Rep. Dennis Kucinich, D-Ohio, has introduced a bill that would expand oversight of the Federal Reserve during the financial crisis by giving the comptroller general a host of new inspection powers.

The Federal Reserve Credit Facility Review Act of 2009, introduced Thursday, would amend the Money and Finance title of the U.S. Code to allow Congress to oversee the Federal Reserve's unusual interventions into the economy.

Under the bill, the comptroller general would gain the power to conduct reviews of credit facilities established by the Board...
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