Is Anyone Minding the Store at the Federal Reserve? (9 Trillion Unaccounted For)

[KoKo]

VIDEO of BUMBLING:

http://www.youtube.com/watch?v=PXlxBeAvsB8&eurl=http%3A%2F%2Fzerohedge%2Eblogspot%2Ecom%2F2009%2F05%2Ffederal%2Dreserve%2Dcan%2Dnot%2Daccount%2Dfor%2D9%2Ehtml&feature=player_embedded
Is Anyone Minding the Store at the Federal Reserve?

Rep. Alan Grayson asks the Federal Reserve Inspector General about the trillions of dollars lent or spent by the Federal Reserve and where it went, and the trillions of off balance sheet obligation...

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Monday, May 11, 2009
The Federal Reserve Can Not Account For $9 Trillion In Off-Balance Sheet Transactions
Posted by Tyler Durden at 3:05 PM
This video is a must watch for anyone who wants to understand just how "effective" the Fed is at safeguarding taxpayer money. Apparently nobody at the Federal Reserve has any clue where the trillions of dollars that have come from the Fed's expanded balance sheet have gone. Additionally, nobody there seems to have any idea what the losses on the Fed's $2 trillion portfolio really are.

As for the pittance of $9 trillion in Fed off-balance sheet transactions over the past 8 months, well, yeah, that's also somewhere out there... Just don't ask the Federal Reserve where.

Rep. Alan Grayson summarizes it best "I am shocked to find out that nobody at the Federal Reserve is keeping track of anything."

http://zerohedge.blogspot.com/2009/05/federal-reserve-can-not-account-for-9.html

[lostnotforgotten]

1. The Federal Reserve Is A Private Institution - Not Accountable To The Government

eom

[Joe the Liberal]

3. That pretty much sums it up. n/t

[KoKo]

2. kick

[threadkillaz]

4. Why this didnt get 100 Recs is beyond me.

Kick for truth.

Support HR 1207.

http://thomas.loc.gov/cgi-bin/bdquery/z?d111:HR01207:@@@P

[truedelphi]

7. I had similar topic yesterday and not one comment.

Not one.

hey it's only our economy, right?

[tom_paine]

5. Sure, they're minding the store. Where do you think the $9,000,000,000,000 went?

The thieves are minding the store, and robbing the store, as only the Global Aristicratic Elite can.

[BR_Parkway]

6. Enron? Pentagon? - these guys all went to the same business school

obviously. I guess this is what they meant about running the country more like a corporation

[bemildred]

8. I wish I could do "off balance sheet" transactions too.

That must be really cool to be able to do.