05/08/09 Congressman Alan Grayson questions Federal Reserve Inspector General Elizabeth Coleman about the trillions of dollars the Federal Reserve is lending, spending, or carrying in off balance sheet obligations. The footage demonstrates the IG doesn’t really have a sense of how the money is being used.
Rocky Vega is a regular contributor to The Daily Reckoning. Previously, he was founding publisher of UrbanTurf and RFID Update, which he operated from Brazil, Chile, and Puerto Rico, and associate publisher of FierceFinance. He specialized in direct marketing at MBI, facilitated MIT Sloan School of Management programs, and has been featured on CBS. Vega graduated with honors from Harvard University, where he was on the board of Let’s Go Publications and directed business programs involving McKinsey, Goldman Sachs, and Harvard Business School faculty. He is also enrolled at the Stockholm School of Economics.
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So when the Glorious Mogambo Ruler Of What Is Right And True (GMROWIRAT) says “Buy Gold and Silver because we’re all frickin doomed”… we should because that little hearing was empty, ‘cept the detainees-o-congress being asked normal questions’ on the only occupied side of the room… barely a ghost of anyone watching, are the only ones with legal counsel? Tsk tsk tsk. Why didn’t I catch this on CSPAN?
God bless people like Grayson. Most politicians are just prostitutes for bankers and other monied interests. We need more people like him. Taxpayers are getting raped with these bailouts.
$30,000 for every man woman and child in this country. I tried getting a loan for my business last week and could’t. Where did all that money go. Maybe we should ask Greenspan. He seems to be willing to talk now that he is no longer with the Fed or is he?
Good example what dumbfu*ks use to be “responsible” for oversight of the most important entities of society.
Would be interesting to know how she got her job. Guess she fuc*ed with a congressman or something…
I would like to see an independent 3rd party audit of the FRS too, BUT: you people and this Congressman clearly don’t understand the role of internal audit. It is not this woman’s job to keep track to FRS losses for example but to make sure someone is and that the information is reported to the Board of Governers.
What a delight it would be to have some inflation! Yes, dear reader, that’s the real reason that fiscal stimulus appears to work. That is, that’s the reason inflation can sometimes boost employment. It creates inflation. And inflation lowers wages. Lower wages make it cheaper to hire people. And they make US output more competitive…Read more…
Could the commodity and equity rallies have ended? Has a change been triggered by a resurgent dollar, meaning its purportedly strong negative correlation with gold and commodities continues to drive the process? But if so, would this also not signal the end of the reflation and carry trades? Would it not also mean that contractionary…Read more…
I believe equity markets (and riskier assets in general) are in the midst of a 10-15% correction that plays out within one quarter, which is normal, not at the onset of the next financial avalanche, which lasts many quarters.
There was never any question that the extraordinary policy maneuvers of 2009 would begin to be unwound…Read more…
who is the witch behind the other witch that keeps whispering into her ear?
So when the Glorious Mogambo Ruler Of What Is Right And True (GMROWIRAT) says “Buy Gold and Silver because we’re all frickin doomed”… we should because that little hearing was empty, ‘cept the detainees-o-congress being asked normal questions’ on the only occupied side of the room… barely a ghost of anyone watching, are the only ones with legal counsel? Tsk tsk tsk. Why didn’t I catch this on CSPAN?
Take a look at Mogambo. Puts it all in perspective… a long time ago. And Now.
God bless people like Grayson. Most politicians are just prostitutes for bankers and other monied interests. We need more people like him. Taxpayers are getting raped with these bailouts.
$30,000 for every man woman and child in this country. I tried getting a loan for my business last week and could’t. Where did all that money go. Maybe we should ask Greenspan. He seems to be willing to talk now that he is no longer with the Fed or is he?
Good example what dumbfu*ks use to be “responsible” for oversight of the most important entities of society.
Would be interesting to know how she got her job. Guess she fuc*ed with a congressman or something…
P-A-T-H-E-T-I-C
I would like to see an independent 3rd party audit of the FRS too, BUT: you people and this Congressman clearly don’t understand the role of internal audit. It is not this woman’s job to keep track to FRS losses for example but to make sure someone is and that the information is reported to the Board of Governers.
Do you Balance your Check Book ? As a citizen I balance mine. Why has the Gov’t been soooo slow to do a CHECK & BALANCES ? WOW WHAT A CONCEPT HUH ?