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Geithner wants Transparency at The Fed? Fed to reject Geithner's review request

Submitted by bobbyw24 on Mon, 09/21/2009 - 06:11
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Fed to reject Geithner's review Fed to reject Geithner's review request: reportrequest: report
Mon Sep 21, 2009 3:53am EDT

(Reuters) - The U.S. Federal Reserve Board has rejected Treasury Secretary Timothy Geithner's request for a public review of its structure and governance, Bloomberg said, citing three people familiar with the matter.

Senior officials at the central bank perceived a potential threat to its independence after the Treasury released its proposal, according to the news agency.

The agency also said that while the report requested by Secretary Geithner and his department has not yet been scrapped, no work has been done on the project, which is due Oct 1.

No comment was immediately available from the Federal Reserve Board.

(Reporting by Biswarup Gooptu in Bangalore; Editing by Ruth Pitchford)

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Here's an interesting quote

Submitted by ubetcha on Mon, 09/21/2009 - 07:37.

“It is not obvious at all why that is a Treasury responsibility or even appropriate why the Treasury would undertake that kind of study,” said Robert Eisenbeis, chief monetary economist at Cumberland Advisors Inc. in Vineland, New Jersey, and a former Atlanta Fed research director. “The Fed was created by Congress and it is not part of the executive branch.”

Link to original story is in this thread

Submitted by Jive_Dadson on Mon, 09/21/2009 - 07:32.

Link to original story is in this thread:

http://www.dailypaul.com/node/107927

With HR 1207 closing in on the bulls eye

Submitted by meekandmild on Mon, 09/21/2009 - 07:28.

Geithner want to make it look like he is concerned about transparency.

The road to truth may take many a twisted detour!

Submitted by Freedom Seeker on Mon, 09/21/2009 - 06:18.

I pledge allegiance to the Constitution of The United States of America and to The Republic for which it stands. One Nation FREE AND INDEPENDENT with LIBERTY AND JUSTICE FOR ALL!

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I pledge allegiance to the Constitution of The United States of America and to The Republic for which it stands. Fifty states FREE AND INDEPENDENT with LIBERTY AND JUSTICE FOR ALL!

almost the same

Submitted by paul4won on Mon, 09/21/2009 - 07:37.

I pledge allegiance to the Constitution of the United States of America and to the Republic which it defines.

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Truth exists, and it deserves to be cherished.