Well, this is as close to MSM as you are going to get on this subject of the Federal Reserve Bank.  It’s nice to see this Wall Street Journal op-ed discussing it in the open, but I think all efforts to audit, rehabilitate, or abolish the Fed will be circumvented by the feds watchdog, Congress and their corporate sponsors.  While I appreciate Amar Bhide’s Op-ed here, I’d say his background is a bit dubious.  I found a short biography on theglobalist.com:

Amar Bhidé is the Glaubinger Professor of Business at Columbia University, editor of Capitalism and Society, member of the Council on Foreign Relations, and the author of The Origin and Evolution of New Businesses.  A former McKinsey & Company consultant, Bhidé was educated at the Indian Institute of Technology and Harvard Business School, where he graduated as a Baker Scholar and later served as an associate professor.

Any news exposed about the movement to abolish the fed is a good thing.  Of course, I wonder why it was written by a member of The Council on Foreign Relations.