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Who’s minding the store?

August 25, 2009
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Apparently no one…..watch as Rep. Alan Grayson asks the Federal Reserve Inspector General about the trillions of dollars lent or spent by the Federal Reserve and where it went, and the trillions of off balance sheet obligations. Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is.

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  1. September 1, 2009 11:26 am

    AND there are 282 (bipartisan) sponsors for the bill to AUDIT the Fed, including BOTH GOP reps and (but not Jim Matheson). S204 has 23 sponsors including BOTH UT Senators.
    http://thomas.loc.gov/cgi-bin/bdquery/z?d111:HR01207:
    http://thomas.loc.gov/cgi-bin/bdquery/z?d111:s.00604:

    “Federal Reserve Transparency Act of 2009 – Repeals the authority of the Comptroller General to carry out an onsite examination of an open insured bank or bank holding company only if the appropriate federal regulatory agency has consented in writing. (Retains the authority of the Comptroller General to audit a federal agency.) Directs the Comptroller General to complete, before the end of 2010, an audit of the Board of Governors of the Federal Reserve System and of the federal reserve banks, followed by a detailed report to Congress.”

    http://www.govtrack.us/congress/bill.xpd?bill=h111-1207

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