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Fed Would Be Shut Down If It Were Audited, Expert Says

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The Federal Reserve’s balance sheet is so out of whack that the central bank would be shut down if subjected to a conventional audit, Jim Grant, editor of Grant’s Interest Rate Observer, told CNBC. With $45 billion in capital and $2.1 trillion in assets, the central bank would not withstand the scrutiny normally afforded other […]

Panic at the Fed?

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You couldn’t make this one up: The Federal Reserve will hire former Enron lobbyist Linda Robertson to improve its image and to stop HR 1207, the bill to audit the Fed. According to Bloomberg.com, Robertson “headed the Washington lobbying office of Enron Corp., the energy trading company that collapsed in 2002 after an accounting scandal.” […]

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