Rep. Alan Grayson talks to the Federal Reserve Inspector General Elizabeth Coleman of the Federal Reserve, asking her questions regarding trillions of dollars that came from the Fed’s expanded balance sheet and what the losses on its $2 trillion portfolio are.
The Inspector General does not have the answers Grayson is looking for.
Grayson asked Coleman if her agency had done any research into the decision not to save Lehman Brothers, which “sent shockwaves through the entire financial system,” Coleman said it had not.
“What about the $1 trillion plus expansion of the Federal reserve’s balance sheet since last September?” Grayson asked.
“We have different connotations,” Coleman replied. “We’re actually conducting a fairly high-level review of the various lending facilities collectively.”
Translation: Nobody at the Fed knows where the money went.
Do you know what who got the $1 trillion or more in the Fed’s expansion of its balance, Grayson pressed.
“I do not know. We have not looked at this specific area at the particular point on that specific review,” Coleman answer.
What about the trillions of off-balance transactions since last September, Grayson asked.
Coleman demurred again, saying the IG does not have jurisdiction to audit the Federal Reserve.
This is the same Fed that has ignored several Freedom of Information requests from Bloomberg News to show where that money has went and who it went to, deliberately breaking federal law.
The Fed is also ignoring the Consitution, which says ALL public monies shall be accounted for.
What's Fed Head, Ben "Shalom" Benrnake, hiding?
A TRILLION here, a TRILLION there and pretty soon, you're talking real money. Remember Rabbi Dov Zackheim, Comptroller of the Pentagon and the missing trillions? Announced by Secretary of War Donald Rumsfeld on September 10, 2001.
That should of been looked into and investigated but that story got buried, along with 3,000 people on 9/11. How convenient for Rummy that our attention got dragged away to view the horrors of 9/11.
In the near future, if this looting does not stop and OUR money returned, America will look like Occupied Palestine, with the wealthy elite living luxurious lives in their mansions, eating caviar and drinking $30,000 dollar bottles of fine wine while the rest of us live in ghettos, guarded by heavily armed police and mercenary units, fighting and dying over scraps of food.
Is this what we want to bequeath to our children?