Thursday, May 6, 2010

Letters from Bernanke and Volcker Against a Fed Audit....

are now in the EPJ Vault.

Paul Volcker's letter is here.

Ben Bernanke's letter is here.

1 comment:

  1. Are younger political hacks becoming more at ease and brazen with obsfucation and lying? Volcker, the older hack, for all his faults, at least to me seems constrained by reality. Whereas Bernanke is in ivory tower mode.

    Not surprisingly, Volcker's letter is shorter and less wordy. Volcker also doesn't straight out lie about the GAO, like Bernanke does. Currently, any GAO audit is hampered by rules that cover pretty much every major Fed transaction.