Friday, June 5, 2009

Federal Reserve to Hire Ex-Enron Lobbyist in PR Move to Counter Doubts about Fed's Growing Power Over U.S. Financial System

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

and

(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,â€