United We Stand to Audit the Fed

United We Stand to Audit the Fed

Nation DC Editor Chris Hayes guest-hosts the Rachel Maddow show and reports on the “remarkable” showing from the Senate as they unanimously voted to audit the Federal Reserve.

Facebook
Twitter
Email
Flipboard
Pocket

For Tuesday night’s Rachel Maddow show, guest-host and Nation DC Editor Chris Hayes, reports on “something remarkable” that happened in Washington earlier that day. On Tuesday, the Senate voted 96-0 to add the “Audit the Fed” amendment to the financial regulatory reform bill. As Hayes explains, the Federal Reserve is the bankers’ bank and beginning in 2007 when the economy went into an “apocalyptic death spiral,” identifying how much money the Federal Reserve lent out—and to which banks—met a similar, apocalyptic death. In one instance, Federal Reserve Chairman Ben Bernanke flat-out refused to say which banks received money.

“The effort to combat that secrecy, and to account for the basic facts of who is getting how much money from the Fed, on what terms, has given rise to the ultimate strange bedfellows political coalition,” explains Hayes. “The Audit the Fed alliance includes lefty bloggers like Jane Hamsher, and the über-conservative right wing anti-tax crusader Grover Norquist…And now, remarkably, the Audit the Fed movement includes all of the 96 Senators who were present today.”

—Clarissa León

We cannot back down

We now confront a second Trump presidency.

There’s not a moment to lose. We must harness our fears, our grief, and yes, our anger, to resist the dangerous policies Donald Trump will unleash on our country. We rededicate ourselves to our role as journalists and writers of principle and conscience.

Today, we also steel ourselves for the fight ahead. It will demand a fearless spirit, an informed mind, wise analysis, and humane resistance. We face the enactment of Project 2025, a far-right supreme court, political authoritarianism, increasing inequality and record homelessness, a looming climate crisis, and conflicts abroad. The Nation will expose and propose, nurture investigative reporting, and stand together as a community to keep hope and possibility alive. The Nation’s work will continue—as it has in good and not-so-good times—to develop alternative ideas and visions, to deepen our mission of truth-telling and deep reporting, and to further solidarity in a nation divided.

Armed with a remarkable 160 years of bold, independent journalism, our mandate today remains the same as when abolitionists first founded The Nation—to uphold the principles of democracy and freedom, serve as a beacon through the darkest days of resistance, and to envision and struggle for a brighter future.

The day is dark, the forces arrayed are tenacious, but as the late Nation editorial board member Toni Morrison wrote “No! This is precisely the time when artists go to work. There is no time for despair, no place for self-pity, no need for silence, no room for fear. We speak, we write, we do language. That is how civilizations heal.”

I urge you to stand with The Nation and donate today.

Onwards,

Katrina vanden Heuvel
Editorial Director and Publisher, The Nation

Ad Policy
x