Florida Democrat U.S. Rep. Alan Grayson wants Americans to help him block Congress from confirming the Chairman of the Federal Reserve to his second term unless he hands over documents relating to the bailouts of financial institutions, including the rescue of Bear Stearns.
In the “Unmask the Fed” campaign, Grayson calls on constituents to sign petitions demanding that Fed Chairman Ben Bernanke “come clean” before senators re-confirm his appointment to the helm of the Federal Reserve.
Grayson wants access to the Bear Stearns rescue paperwork as well as the details of which financial institutions received $1.2 trillion in bailout money, how much each institution received, and what was promised in return. He’s also seeking Fed documents that discuss the Bank of America/Merrill Lynch merger, transcripts of Open Market Meeting minutes, and the terms and conditions of Fed transactions not reflected in balance sheets from the past three years.
“[T]he Senate should know who got the $2 trillion the Federal Reserve has lent out over the last two years,” the petition reads. “Only then will the Senate be able to judge whether he should keep his job.”
Grayson and Texas Republican Rep. Ron Paul sent Sen. Chris Dodd, who chairs the Senate Banking Committee, a letter last week asking him to postpone Bernanke’s re-confirmation hearings until the public has access to more information about the Federal Reserve.
“Without such an understanding, it is impossible to know whether Chairman Bernanke is fit to serve another term and fulfill the Federal Reserve’s dual mandate to ensure price stability and full employment,” the letter to Dodd read.
It continued: “Today, big banks are being bailed out and have a substantially lower cost of capital through an implicit government backstop even as Americans themselves are seeing their pay cut.”
There are separate bills that would authorize an audit of the Federal Reserve that are picking up speed in both the House and the Senate, with bi-partisan support in both chambers. Paul sponsors the House version of that legislation, and Vermont Sen. Bernie Sanders is behind the Senate measure.
“The Federal Reserve has got to understand that this money does not belong to the Federal Reserve. It belongs to the American people,” Sanders told Raw Story in an email from his spokesman. “As long as the Federal Reserve is allowed to keep the information on their loans secret, we will never know the true financial condition of the banking system.”
BUSTED: Trump’s White House sent out anti-Vindman talking points — trashing their own staffer
President Donald Trump's war on his own employees escalated on Tuesday when the White House spread talking points designed to result in a coordinated attack on a decorated active-duty Army officer.
"The Trump White House has taken the extraordinary step of distributing talking points to allies of the president trashing one of its employees," The Daily Beast reported after obtaining a copy of the document.
"On Tuesday morning, White House aide Julia Hahn emailed Trump surrogates under the subject line, “Vindman’s Complaints Are Nothing More Than Policy Disagreements,” according to messages reviewed by The Daily Beast. Hahn, a Steve Bannon protege and one of his former allies in the White House, works on outreach and communications involving pro-Trump talking heads and other players in conservative media," The Beast reported.
Don Lemon notes the GOP panic after their own witnesses gave testimony harming Trump: ‘Worried much?’
CNN anchor Don Lemon explained how witnesses called by Republicans in the impeachment inquiry destoryed the defenses employed by President Donald Trump and his allies.
"Now, let's just be honest, the shakedown -- that's exactly what it is -- the shakedown is exposed, people," Lemon said.
"And the evidence comes from the Republican's own witnesses," he noted. "The former envoy to Ukraine, Kurt Volker -- who resigned just one day after the release of the whistleblower's report -- telling the president's defenders exactly what they did not want to hear."
"They called him apparently expecting him to say what he said in his closed-door testimony, that he saw no evidence of a quid pro quo, or let's call it for what it is again -- a shakedown," he continued. "Well, now he says he was wrong."
Trump declares it was a ‘great day for the GOP’ — and is mercilessly ridiculed for his absurd claim
President Donald Trump responded to the end of the day's impeachment hearings by saying that it was a great day for the Republican Party and for the United States. There were many people who disagreed, however.
Every person who testified before Congress has said that Trump's obsession with Joe Biden was concerning enough to alert others. Even National Security Council aide Tim Morrison stressed that he didn’t believe there was anything inappropriate about the call between Trump and Ukrainian President Volodymyr Zelensky. But when Rep. Val Demmings (D-FL) asked him why then he felt the need to report it if there was nothing wrong, Morrison struggled to find an answer.