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Missed Fortune – Is Anyone Minding the Store at the Federal Reserve?

Posted on | June 14, 2009

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Is anyone minding the store at the Federal Reserve?

On May 8, 2009, Rep. Alan Grayson asked the Federal Reserve Inspector General about the trillions of dollars lent or spent by the Federal Reserve and where it went and the trillions of off balance sheet obligations.

Inspector General Elizabeth Coleman responded that the IG does not know and is not tracking where this money is. If you want view this five minute shocking interview, go to this video at the Missed Fortune SuperBlog.

This direct interview is unbelievable because the IG doesn’t even understand the question, nor is capable of answering it. How did she get to that position? I should be surprised, but I’m not!

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