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Comment by Rivkah Cohen on June 11, 2009 at 8:19am

A little slow getting to this but curious if you have find any more information on this? Thanks
Rivkah

Comment by truth on May 22, 2009 at 11:18am

The date of the original video posted by skylla2012 was May 06, 2009. May have been before that.

Comment by truth on May 22, 2009 at 11:13am

Federal Reserve Cannot Account for $9 Trillion

Gold & Silver Investments Limited , Gold & Silver Investments Limited

Published 05/15/2009
- 5:52 a.m. ES

Rep. Alan Grayson talks to the Federal Reserve
Inspector General Elizabeth Coleman of the Federal Reserve, asking her
questions regarding trillions of dollars that came from the Fed’s expanded
balance sheet and what the losses on its $2 trillion portfolio are.

The Inspector General does not have the answers Grayson is looking for.

Grayson asked Coleman if her agency had done any research into the decision not to save Lehman Brothers, which “sent shockwaves through the entire financial system,” Coleman said it had not.

“What about the $1 trillion plus expansion of the Federal reserve’s balance sheet since last September?” Grayson asked.

“We have different connotations,” Coleman replied. “We’re actually conducting a fairly high-level review of the various lending facilities collectively.”

Translation: Nobody at the Fed knows where the money went.

Do you know what who got the $1 trillion or more in the Fed’s expansion of its balance, Grayson pressed.

“I do not know. We have not looked at this specific area at the particular point on that specific review,” Coleman answer.

What about the trillions of off-balance transactions since last September, Grayson asked.

Coleman demurred again, saying the IG does not have jurisdiction to audit the Federal Reserve.

Grayson pointed out that it was the inspector general’s job to audit such spending and asked again if the office had done any investigation at all.

Coleman’s answer: Not enough yet to even respond. “We are in not a position to say if there losses.”

Grayson concluded, “I am shocked to find out that nobody at the Federal Reserve, including the inspector general, is keeping track of this.”

Comment by Michael C. Dewey on May 22, 2009 at 10:04am

Oh good grief. Nobody does know what the FED is doing. Good grief.

Comment by Jeff on May 22, 2009 at 7:34am

Can't help you my friend...