'Deception and abuse at the Fed'

Deception and abuse at the Fed

Here are some of the Federal Reserve severe problems described in the book 'Deception and abuse at the Fed':
- The shielding of powerful Fed officials from individual accountability to Congress and the public by falsely declaring—for seventeen years—that it had no transcripts of its meetings
- The shredding of official source records during the 1990s
- Insider Trading: the leaking of inside information that could be exploited for billions of dollars
- A policy to manipulate the stock and bond markets in 1994 under cover of a preemptive strike against inflation
- Faulty bank-examination practices, as revealed by the $5.5 billion sent to Saddam Hussein from a small Atlanta branch of a foreign bank
- Stonewalling congressional investigations and misleading the Washington Post about the $6,300 in hundred-dollar bills found on the Watergate burglars
- Billion-dollar loans to foreign countries without congressional authorization
- Employee theft of more than the officially reported $500,000 in cash from the central bank’s enormous vault facilities
- Corrupt accounting practices at the Fed’s second-largest vault facility, which stored $80 billion in cash
- Denying that the Fed was covered under the Civil Rights Act of 1964 and firing women who sued for racial discrimination
- Retaliation by the Fed against critical reporters
- Falsified records and shady operations regarding the Fed’s fleet of fifty-plus airplanes, including paying for a “phantom” backup airplane at Teterboro Airport