This is a hearing on May 5, 2009 of a committee of the House of Representatives looking into oversight of the Federal Reserve and seeking an explanation for the large and sudden expansion of the balance sheet of the Federal Reserve. The Congressman asking the questions is Democrat Rep. Alan Grayson. He is questioning Elizabeth Coleman, Inspector General of the Federal Reserve Bank.

Watch it and despair. A clear example of why Government is not the answer.


2 thoughts on “No Words Will Suffice to Describe This

  1. The lack of accountability for the massive trillion dollar (and growing) Obama rescue package is mind boggling beyond all belief. “Incompetent” is too mild a word for the level of gross “non-management” the Federal Reserve, Inspector General displayed in this hearing. It is stunning to see how this person displays such ignorance concerning where the trillion dollar Obama bailout has been spent, or more aptly, misspent. Perhaps fiscal non-accountability is a new economic strategy the Obama administration is using to save administrative costs as it spends taxpayer dollars like a drunken sailor (no offense to sailors), or more accurately, maybe that addled display by the Inspector General of the Federal Reserve merely underscores the successes of the Obama administration in facilitating tyrannical, unaccountable, funding of socialist programs – “CHANGE.” Either way, it appears the Obama administration will very soon have succeeded in making all people equal – – – EQALLY IMPOVERISHED.


  2. MR…

    To place the blame on the Obama administration is like blaming Barney Fife for a robbery at the Mayberry general store. He is just the latest in a long line of presidents whose job description has included looking the other way while the Fed carries out its planned destruction of America which began in the early 1900's. G. Edward Griffin's “The Creature From Jekyll Island” lays it all out in no uncertain terms. Reagan was the last president who tried to dig deep into our monetary system, and the Grace Commission report proved that 0% of the income tax goes to government services – it all goes to the privately owned Fed for interest on the national debt.

    We have got to stop calling these people incompetent, when in fact they are the biggest crooks to ever to have set foot on a American soil. Please support Ron Paul's bill to audit the Fed, HR1207 (which just yesterday reached majority support in the House), and the other companion bills he has introduced such as the Honest Money Act and the bill to abolish the Fed.


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