If they can't audit the Fed, is there any real oversight?

Given what they do there is no doubt, IMHO, that being able to regularly audit the Fed has to come under the oversight of Congress. The amounts of money they can deal in, what they do with it, where it comes from and how it can effect our entire economy dictates that they have to be able to be reviewed in what they do. All I can say is "Go Bernie!"

As unusual a coalition as can be crafted in the Senate plans to fight for an amendment to the Wall Street reform bill that would open the Federal Reserve to a serious audit by the Government Accountability Office. Sponsored by Sen. Bernie Sanders (I-Vt.), the language is modeled after an amendment that passed the House, sponsored by Reps. Alan Grayson (D-Fla.) and Ron Paul (R-Texas).

Sanders is joined by four Republicans of varying politics: John McCain (Ariz.), Jim DeMint (S.C.), David Vitter (La.) and Sam Brownback (Kan.). If Democrats in the Senate back the measure, it would have at least 63 votes, but Banking Committee Chairman Chris Dodd (D-Conn.) is
opposed and has argued against a broad audit.

This is something that libertairians and liberals alike agree on and as proof you need look no farther than the typical libertarian Ron Paul supporters and liberal supporters pushing for the Garyson/Paul legislation on the House side. This is an issue that most Americans have as common ground given how it can and does effect what are supposed to be "free markets"

You want to play with money to the point where it can influence "free markets" and have so much input on what happens with this nation's and the world's finances? Congress has got to have oversight over what you are doing. Because, in the end, it is all our money you are messing with.

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...and do it. The audit function is central to all financial institutions. Why shouldn't the exclusive franchise be subject to state of the art scrutiny? Or do they have something to hide, something "we wouldn't understand." Outrageous. Thanks for posing the question. The answer: NO there is no oversight without Fed audits.

"Furthest from him is best, whom reason hath equaled, force hath made supreme above his equals." Milton