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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: sandintoes who wrote (38930)	11/23/2009 9:08:58 AM
From: Peter Dierks	Read Replies (2) \| Respond to of 71588

"Congressional auditors have been blocked from reviewing the Fed's monetary policy operations, its loans to foreign governments and direct lending to banks since 1978, when a law was passed to shield the central bank from politics. Auditors already have access to the Fed's operations outside of monetary policy, including bank supervision and the special loan facilities created to rescue specific institutions, such as AIG and Bear Stearns Cos." And guess who was Pres in 1978????? Jimmy (lusting in my heart) Carter! And democrats controlled both houses of Congress.