Monday, July 6, 2009

Senate Will Not Snoop Around the Fed's Turf

In move that will certainly displease some, if not many, the newly Al Franken-ed Senate will not jump at the opportunity to scrutinize the monetary wonks at the Federal Reserve.

"On procedural grounds, the Senate blocked a bid to permit the U.S. comptroller general, who heads the investigative arm of Congress known as the Government Accountability Office, to audit the Federal Reserve system and issue a report."

At this point, most Americans, if they've even heard of the Fed, probably assume that it is some sort of Dr. Strangelove-ish round table of dolts.

They wouldn't be entirely wrong but since we're dealing with financial Armageddon as opposed to a runaway pilot with incorrectly received orders to drop the bomb, it might be in our best interest to have an idea of what the hell is going on at the Fed. Just sayin'.

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