Congress subpoenas the Federal Reserve

Congress subpoenas the Federal Reserve

www.usatoday.com

WASHINGTON (AP) — House lawmakers on Tuesday said they have subpoenaed the Federal Reserve to hand over e-mails, notes and other documents related to its role in Bank of America Corp.'s acquisition of Merrill Lynch & Co.
The lawmakers' subpoena comes after claims that top government officials pressured Bank of America Corp. CEO Ken Lewis to complete the bank's purchase of Merrill Lynch, threatening his job security. Lewis has testified that he had been advised by the officials, former Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke, not to disclose details of M

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My apologizes if this has already been posted...huge news, excellent development. Perhaps the House has some tingling prehensile precursor to a spine, even if the Senate lost it long ago. Or perhpas this, too, will vanish in the mist.

They are asking for email records. They are unlikely to get anything at all, but you never know. But at the very least reveals a not-completely-comitose congress and is the first heartening news story of this magnitude in weeks, really, in my opinion.

www.usatoday.com
(visit the link for the full news article)

This is amazing nice find! This and the Ron Paul Bill are shaping things up for a nice fight I hope. The powers that be better be careful.

Man who knows what will happen when the government realizes there is no proverbial goose that lays golden eggs?

Money does NOT grow on trees.. oh, wait...

This is a no brainer people, really.
They will be lost, the same way Cheney and Bush's emails were 'lost' not long back.

Still any blow these days to the Fed and the powers that be is good, however small it may be. It shows that there are people that want to make a difference in politics and do the right thing.

At the very least when those emails turn up missing it's certainly not going to help the Federal Reserve's reputation within Congress. It may not go very far, but this is certainly a step in the right direction for a change. Bravo to the House of Representatives on this one.