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16 Sep, 2009 09:46

Americans call for transparency of Federal Reserve

In the US, dozens of people took to the streets of New York to call for an audit of the Federal Reserve Bank.

The activists campaigned for the Senate to push through an act which would force the institution to give an account of its financial operations.

Thousands of signatures backing the action were delivered to several US congressmen.

The participants also claimed that the policy of the Federal Reserve Bank actually caused the financial crisis.

“The Federal Reserve creates a credit bubble, and it allows banks to just hand out money to whoever they want. And therefore it creates malinvestment throughout the country,” one of the activists told RT.