Congressman Grayson discusses Fed oversite and HR1207

In this video from yahoo's Tech Ticker Rep Grayson talks about fed auditing.

http://finance.yahoo.com/tech-ticker/article/258173/Cost-of-...

Cost of Fed Expansion of Balance Sheet Is $30K Per American, Congressman Grayson Says. Those were just some of the harsh words Congressman Alan Grayson of Florida had this morning regarding Washington's handling of the financial crisis so far. His remarks were part of The Big Picture Conference--Capitalism After Crisis & Recession at the New York Athletic Club today.

To be sure, while there's a huge risk in the government borrowing $10 trillion, the alternative was Great Depression 2, the congressman said.

Grayson also noted:

* Sloppy thinking is leading policy decisions at the moment.
* We can't manage systemic risk if we can't ID which parties are "too big to fail".
* Why are we bailing out AIG if Goldman "first domino" said risk wasn't material.

Actions are needed to ensure culprits are held accountable.

View Aaron's interview with Grayson, and stay tuned for more coverage from the conference.