How is the Fed responding to:
(1) a bill in Congress with 190 co-sponsors to audit the Fed
(2) a new law giving the GAO some power to examine the Fed’s actions
(3) calls by many to abolish the Fed altogether?
A promise of 100% openness and full disclosure to Congress and the American people?
An agreement to stop all behind-the-scenes shenanigans?
An end to the whole scam of private bankers “creating” credit and bilking the taxpayers out of trillions in interest?
Of course not!
Instead, the Fed is . . . launching a new p.r. campaign to show everyone how wonderful Ben and the boys really are.
As Bloomberg notes:
The Federal Reserve intends to hire a veteran lobbyist as it seeks to counter skepticism in Congress about the central bank’s growing power over the U.S. financial system, people familiar with the matter said.
Linda Robertson … headed the Washington lobbying office of Enron Corp… Robertson [also] served under Treasury Secretaries Lawrence Summers, Robert Rubin and Lloyd Bentsen…
“People have been asking whether the Fed is capable of getting its job done right,” said Lynn Turner, a former chief accountant at the Securities and Exchange Commission. “Hiring a former lobbyist from Enron will surely make one wonder.”
Friday, June 5, 2009
Source: Washington’s Blog