While I agree on the outset with the general- theme on wether or not to audit the Fed- I have a couple issues I would like to set forth.
Firstly, the Fed gets reviewed already, so I'm not sure how this audit would differ from any other
On the other hand, read this article
''While it is technically independant, the federal govt exerts massive political pressure on the Fed and appoints its chair and board of governors.''
Maybe an audit along these lines would have some interesting findings.
Second, I don't see how any can deny the conflict of interests that seems to exist between the Fed and the people, and the Fed and Goldman Sachs. I see no reason why the fed govt should be tied to the banking industry, nor the necessity for a Federal Reserve Bank.
Any action that could result in a hard look at the past actions of the Fed and the allocation of tax payer dollars seems like a good start to me.