Sunday, June 7, 2009

Federal Reserve to Hire Lobbyist to Counter Skepticism

The Federal Reserve, whose chairman recently expressed concern over the growing federal deficit, intends to hire a lobbyist to counter skepticism on Capitol Hill over the Fed's ever-increasing influence.

The lobbyist the Fed plans to hire, Linda Robertson, did the lobbying for Enron. She also worked under three Treasury Secretaries - Lawrence Summers, Robert Rubin, and Lloyd Bentsen.

Fed Intends to Hire Lobbyist in Campaign to Buttress Its Image (6/5/09, Bloomberg)

"The Federal Reserve intends to hire a veteran lobbyist as it seeks to counter skepticism in Congress about the central bank’s growing power over the U.S. financial system, people familiar with the matter said.

"Linda Robertson currently handles government, community and public affairs at Johns Hopkins University in Baltimore, and headed the Washington lobbying office of Enron Corp., the energy trading company that collapsed in 2002 after an accounting scandal. She was also an adviser to all three of the Clinton administration’s Treasury secretaries.

"Robertson would help the Fed manage relations with lawmakers seeking greater oversight of a central bank that has used emergency powers to prevent Wall Street’s demise."

This alone shows, to me, very eloquently, that the Federal Reserve is NOT PART OF THE GOVERNMENT but basically a private industry group, a cartel. The banking cartel wants to reassure the ever-skeptical and critical Congress that the increasing power of the Fed over the financial and economic system is a good thing, nothing to worry about. Audit the Fed? Oh don't worry and don't waste your time and resource, we know what we're doing...

After a disasterous performance by the Federal Reserve vice chairman Donald Kohn, the Fed should worry about the general public slowly but surely catching on. Here's a video clip of Mr. Kohn grilled by a Florida Democrat Alan Grayson over the Fed's balance sheet. (SO WHERE HAS THE MONEY GONE, Mr. Kohn?)


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