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  1. 05-12-2009, 02:56 PM #1
    AirborneSapper7
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    Video: Federal Reserve Cannot Account for $9 Trillion

    Video: Federal Reserve Cannot Account for $9 Trillion

    Tuesday, May 12, 2009 12:30 PM

    By: Julie Crawshaw

    The Federal Reserve apparently can't account for $9 trillion in off-balance sheet transactions.

    When Rep. Alan Grayson (D-Orlando) asked Inspector General Elizabeth Coleman of the Federal Reserve some very basic questions about where the trillions of dollars that have come from the Fed's expanded balance sheet, the IG didn't know.

    Worse, nobody at the Fed seems to have any idea what the losses on its $2 trillion portfolio really are.

    "I am shocked to find out that nobody at the Federal Reserve is keeping track of anything," Grayson says.

    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,â€
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  2. 05-12-2009, 03:10 PM #2
    vortex
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    People misplace things all the time. I suppose I worry more when I stuck my glasses somewhere, and will spend whatever time it takes to track them down.
    Another fine example of our gubbernment at work looking out for the tax payers.
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  3. 05-12-2009, 03:18 PM #3
    crazybird
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    Gee......and to think when I was cashier, you could be charged with theft if your drawer was off a penny. Nice to see they are so careful...
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