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Old 03-11-2010, 11:49 PM   #202
Avalon Senior Member
Join Date: Sep 2008
Location: Turtle Island
Posts: 2,776
Default Re: HR 1207 UPDATES "The Federal Reserve Transparency Act"

See new post today above also:

Answers Sought from Ben Bernanke

Posted by Matt Hawes on 03/11/10

House Financial Services Committee Chairman Barney Frank has written a letter to Federal Reserve Chairman Ben Bernanke asking him to "fully investigate" possible incidents of Fed wrongdoing during the 1970s and 1980s. Congressman Paul raised concerns about these incidents during a recent Committee hearing.

"During your Humphrey-Hawkins testimony before this Committee last week, Representative Ron Paul raised questions about inappropriate political interference with the Federal Reserve System resulting in hidden transfers of resources to facilitate crimes during the Watergate scandal in the 1970s, and to Iraq for weapons purchases during the 1980s. These are serious allegations and must be fully investigated. I expect that you will do so promptly, and share the results of your investigation with Congress.

Given the continued concern about political interference with the Federal Reserve System and allegations about a lack of transparency, these charges cannot be left unaddressed.

Representative Paul cited reports and stonewalled investigations regarding these charges, and, with this letter, I am asking him to share with you whatever information he has that may facilitate your investigation.

The Federal Reserve's ability to manage monetary policy in an effective manner depends, in large part, on its reputation for independence and integrity. A complete investigation of these charges is necessary to maintain both."

Letter PDF:


Last edited by peaceandlove; 03-12-2010 at 03:57 AM.
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