Senator Elizabeth Warren Opposes ‘Audit the Fed’ Bill & Alan Greenspan Admits The Federal Reserve Is Above The Law & Answers To No One

[SEE3772]

http://www.wsj.com/articles/BL-REB-30710



Video - Alan Greenspan Admits The Federal Reserve Is Above The Law & Answers To No One

[CuteOldGuy]

So much for the anti-corporatist candidate. She's all in with the banksters and other Statists.

[JD Barleycorn]

It was Bush and McCain who wanted to audit Fannie and Freddie in 2005 but they got stopped by the democratic leadership. Don't worry about Liz, the press will cover for her.

[lustylad]

From Subject Heading:

"Alan Greenspan Admits The Federal Reserve Is Above The Law & Answers To No One"


Could someone please tell me exactly where Alan Greenspan says this? All I see is a 9-minute video of a TV appearance from 8 years ago.

[Yssup Rider]

This is precisely why SEE has little or no credibility.

When you use a link to back up your argument and it goes to a Three Stooges video ... or in this case something 8 years old ... you know someone's stretching.

[lustylad]

Actually I was wrong - it's only 7 years old. But you are right about SEE having no cred.

In the video Greenspan defends the Federal Reserve's current "independence". He doesn't claim it should be above the law or answer to no one. In fact, the Fed chairman must be appointed by the POTUS and confirmed by the Senate every 4 years. Only an idiot doesn't know that.

[gnadfly]

Shortly after Warren beat Brown there was much hullabaloo about Warren questioning some Fed Dept (SEC?) leaders about how many bankers the govt had bought actual charges against, were successful and had thrown in jail. The (SEC?) leaders had no numbers but explained they tried to avoid trials and settle out of court. Maddow made a big deal about this for several nights.

Has Warren done anything since? I keep hearing about her being a champion of the little guy but don't see any actual activity.

[Whirlaway]

Fed Res President Jeffrey Lacker said:

“If you look at the nuts and bolts of what it really does, it facilitates high-frequency harassment of our decision-making process, our monetary policy decision-making process,” he told reporters in Raleigh, N.C. “I don’t think anyone would view that as a constructive approach to oversight of any other agency, and certainly not one as important as the Federal Reserve.”

Gosh, can't have the decisions of the FR questioned; that would be outrageous HARASSMENT!

[WTF]

Originally Posted by lustylad

From Subject Heading:

"Alan Greenspan Admits The Federal Reserve Is Above The Law & Answers To No One"


Could someone please tell me exactly where Alan Greenspan says this? All I see is a 9-minute video of a TV appearance from 8 years ago.

He suckered you into watching a 9 minute video!

[lustylad]

Originally Posted by Whirlaway

Fed Res President Jeffrey Lacker said:

“If you look at the nuts and bolts of what it really does, it facilitates high-frequency harassment of our decision-making process, our monetary policy decision-making process,” he told reporters in Raleigh, N.C. “I don’t think anyone would view that as a constructive approach to oversight of any other agency, and certainly not one as important as the Federal Reserve.”

Gosh, can't have the decisions of the FR questioned; that would be outrageous HARASSMENT!

Do you know how often the Fed Chairman (now Chairwoman) already has to haul his/her ass up to Capitol Hill and sit there answering stupid questions? What useful purpose would be served by requiring more of this? Much better to let them do their jobs instead of making them public scapegoats every time something goes wrong with the economy or using them for gratuitous grandstanding by dipshit politicians who flunked Econ 101.

.

[Whirlaway]

Audits are a normal course of practice for most all large businesses. Why oppose an audit of the FR?

The Richmond Chairman labeled the "Audit The Fed" bill as harassment!

Did you ever think that if the FR provide an annual audit, then they wouldn't have to come before congress and answer question upon question. That is what an audit does; provides transparency. Why oppose transparency?

Originally Posted by lustylad

Do you know how often the Fed Chairman (now Chairwoman) already has to haul his/her ass up to Capitol Hill and sit there answering stupid questions? What useful purpose would be served by requiring more of this? Much better to let them do their jobs instead of making them public scapegoats every time something goes wrong with the economy or using them for gratuitous grandstanding by dipshit politicians who flunked Econ 101.

.

[CuteOldGuy]

Originally Posted by lustylad

Do you know how often the Fed Chairman (now Chairwoman) already has to haul his/her ass up to Capitol Hill and sit there answering stupid questions? What useful purpose would be served by requiring more of this? Much better to let them do their jobs instead of making them public scapegoats every time something goes wrong with the economy or using them for gratuitous grandstanding by dipshit politicians who flunked Econ 101.

.

I hope you're being sarcastic. Otherwise, this is an incredibly ignorant statement.

[lustylad]

Originally Posted by Whirlaway

Audits are a normal course of practice for most all large businesses. Why oppose an audit of the FR?

The Richmond Chairman labeled the "Audit The Fed" bill as harassment!

Did you ever think that if the FR provide an annual audit, then they wouldn't have to come before congress and answer question upon question. That is what an audit does; provides transparency. Why oppose transparency?

For your information, the FR already provides MULTIPLE annual audits. In fact we audit the hell out of the Federal Reserve. Go online and you can find the consolidated financial statements as audited by Deloitte & Touche. Each of the 12 regional Fed banks undergoes its own audit. The Inspector General's office conducts its audits. The Government Accounting Office (GAO) conducts its audits. As far as the need for yet ANOTHER audit is concerned, can you say REDUNDANT?

So what's the point? Tell me exactly what you are looking for that isn't already out there in the public domain?

.

[CuteOldGuy]

Link to those audits, please.

[lustylad]

Originally Posted by CuteOldGuy

Link to those audits, please.

There are too many of them. That's why you need to know what you are looking for before you start. Here are links to the links.


http://www.federalreserve.gov/moneta...ls.htm#audited

http://oig.federalreserve.gov/reports/allyearsboard.htm

http://www.gao.gov/browse/a-z/Federa...ndent_Agencies