Thursday, March 26, 2009

A Growing Chorus on the Hill Questions the Fed's Decisions

The Washington Post reports:
The Federal Reserve, which for the past year has drawn mostly praise from Congress for its aggressive response to the financial crisis, is increasingly on the hot seat.

In recent weeks, members of Congress have criticized the central bank -- publicly and vociferously -- for failing to stop the payment of bonuses at American International Group, for not disclosing the names of companies that benefit from its massive lending programs and for acting without lawmakers' explicit approval in deploying vast sums of taxpayer dollars.
It's amazing the Washington Post never mentions Ron Paul.