Oversight, accountability and transparency

This is worth watching just for the extraordinary display of incompetence by the person responsible for overseeing the Federal Reserve. Rep. Grayson asks good and important questions but get no coherent answer whatsoever.

Rep. Grayson also asked pointed question of Federal Reserve Vice chairman Donald Kohn last September regarding what companies were beneficiaries of the Fed's largess and Kohn refused to answer.


I'm no fan of Ron Paul - I think he's pretty much a loon in most respects - but he has an important bill [HR 1207] introduced recently which requires an audit of the Fed's activities to be provided to Congress. The bill has over 130 co-sponsors, but every bit of pressure helps so if you're so inclined, write your congresscritter to urge their support (I've already written and called mine.)