Idiot

Of course Bernake doesn't like the idea of an audit of the Federal Reserve's practices.  No tin-pot dictator likes restrictions on his power--observers shine a light on actions that the world shouldn't see, in his opinion. 

The term "audit" means far more than he thinks.  And whether he believes it or not, the public is smarter than he gives us credit for: "The public thinks that auditing means checking the books, looking at the financial statements, making sure that you're not doing special deals, and that kind of thing. All of those things are (already) completely open."  I think most of us know better, and I know that the House of Representatives (the house in which the bill originated) understands what an audit is.  In this case, as in the case in university audits, auditors would be looking for overspending, mis-spending, and general waste, not just back-room deals. 

Either Bernake is an idiot, or he thinks the American public is.