That New Bipartisan Unanimous Amendment Smell

The Senate just voted 96-0 to audit the Fed on Sen. Bernie Sanders' amendment to the financial regulation bill.

Though the measure was always popular, it faced extraordinary opposition from the White House, Wall Street and the Fed itself. Late last week, in a move that defused the opposition, and may have saved Wall Street reform legislation, Sanders agreed to limit the scope of the audit to emergency lending only, exempting other Fed activities. 

That preserved the broad intent of the plan, which was always aimed at bringing the Fed's shadowy activities during the financial crisis into the daylight. Under the terms of the proposal, the Fed will also be required to make public which companies received upwards of $2 trillion in aide from the Fed, and under what terms.

I trust a bi-partisan, unanimous 96-0 Senate vote about as far as I can roller skate up Mount Everest backwards.   That bold section up there means it's going to be Obama taking the brunt of the heat on this.  Fed makes public all these numbers, GOP will attack.

Might as well attach an amendment declaring all puppies are cute.  Nice bit of showboating though.  Important to note that the same Senate voted down Republican David Vitter's amendment 62-37 that would audit all activities of the Fed.