FED RES: contdown to accountability

Congressman berates Fed lawyer about unaccountability

Submitted by cpowell on Fri, 2009-09-25 20:42. Section: Daily Dispatches

4:41p ET Friday, September 24, 2009

Dear Friend of GATA and Gold:

At today's hearing of the House Financial Services Committee, U.S. Rep. Alan Grayson, D-Florida, berated the general counsel of the Federal Reserve System, Scott G. Alvarez, about the Fed's unaccountability. Our friend Bix Weir has provided a partial transcript of the exchange and has included a link to a video of the full exchange at YouTube. It seems that understanding of the Fed's absolute power is growing. You can find Weir's work at GoldSeek here:

http://news.goldseek.com/GoldSeek/1253903938.php

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.