Shock News!!!! Fed Resists Transparency!!!!!

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Funny stuff!!!

Fed Chair Yellen won’t provide some documents in leak probe

WASHINGTON (AP) — Federal Reserve Chair Janet Yellen is balking at turning over some of the documents ordered by a key House lawmaker in his investigation of a possible leak of market-sensitive information.

Yellen has told Rep. Jeb Hensarling, R-Texas, who heads the House Financial Services Committee, that she can’t provide some documents sought by his subpoena because doing so could jeopardize a criminal investigation by the Justice Department and the Fed’s watchdog inspector general. Yellen said the inspector general has told the Fed that the documents in question — which include records related to an earlier internal review by the Fed’s general counsel — should not be provided.

“The Federal Reserve is mindful that we must not impede that open criminal investigation,” Yellen wrote in a letter to Hensarling Thursday.

The move escalated a months-long battle between the Fed chair and the lawmaker over an alleged leak in 2012 of interest-rate information to a financial newsletter.  ….

There’s more to read at the link.

As if there’d ever be charges against the Fed …. they probably keep an open investigation only to impede congressional oversight. 

No one, including myself, wants to know, exactly, how ugly this has become.  It’s been a horrid burden on the people.  Their policies are insane.  The Fed doesn’t function for the benefit of the people.  There’s no reason for the people to have it.

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14 Responses to Shock News!!!! Fed Resists Transparency!!!!!

  1. Latitude says:

    now wait just one minute…..Hensarling wants papers from 3 years ago….and the Justice Dept is still investigating?

    …and now China has all of our IRS and federal employess info

    What difference at this point does it make?

  2. DirkH says:

    Oh goody, an economy post, so I’m currently watching Peter Schiff and Mike Maloney, and Maloney has some VERY WORRYING CHARTS (and it looks like this exactly coincides with how 2007 unfolded, and like Martin Armstrong’s Oct 2015 crash prediction – he’s a supercycle / cycle of confidence guy – fits right into it.)

    So, the crash already announces itself in data that is already there!

  3. Jason Calley says:

    From the Federal Reserve’s own web site:
    http://www.federalreserve.gov/aboutthefed/section7.htm
    “(c) Exemption From Taxation. Federal reserve banks, including the capital stock and surplus therein, and the income derived therefrom shall be exempt from Federal, State, and local taxation, except taxes upon real estate. ”

    Nice work, if you can get it…

    • cdquarles says:

      I’m pretty certain that the employees of same do pay taxes. I’m also pretty certain that Indian reservations and the businesses therein are likewise exempt from state and local taxes, except where Congress has permitted them. I think Federal bases and the Post Office falls under this ‘sovereign immunity’, too.

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