The Senate has gone on record in favor of requiring the Federal Reserve to reveal the names of the banks and other financial institutions it has lent money since a crisis hit the financial system last year.
The amendment by Vermont Independent Bernie Sanders is nonbinding but calls for future legislation to force the Fed to reveal the names of the entities it has lent money to, how much they've received and what they are doing with the money. Fed Chairman Ben Bernanke refused to do so at a recent hearing.
Unlike the $700 billion taxpayer-funded bailout distributed by the Treasury Department, the more than $2 trillion lent by the Fed to institutions like Bear Stearns and the American International Group Inc. does not have to be revealed.
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