Sunday, May 24, 2015

Federal Reserve Gets Subpoena

Jeb Hensarling, the chair of the House Financial Services Committee, has subpoenaed the Federal Reserve for documents relating to a leak of sensitive information in 2012.

According to FT:
The decision to issue the subpoena represents a ratcheting up of the pressure by Mr Hensarling, who said on Thursday that the Fed had shown resistance to “accountability and oversight” and that his decision represented a “prudent and measured” approach.
So now we have both a powerful House committee, and the DOJ, investigating the leak.

It sure looks to me that the powers that be are gunning to take out Fed chair Janet Yellen.

Yellen has already admitted that she met with analyst Regina Schleiger, who was the recipient of the leaked information. But Yellen claims it was some time before the leak.

If Yellen is forced out, Fed Vice-Chair Stanley Fischer would most assuredly slide in as "acting" Fed chairman. Many on crony Wall Street have wanted Fischer as lead man right from the start, but since he is a dual US-Israeli citizen and was president of Israel's central bank, it was viewed that it would be impossible for him  to get a Senate confirmation as chairman.



  1. Fischer, eh? A modern "permanent plateau of prosperity" is headed our way.

  2. LOL! For those of you who don't know what he's talking about: