July 15, 2009

Just got off the phone with Senator Mary Landrieu’s office. The aide I spoke with told me that Mary hasn’t yet signed on as a co-sponsor to S.604, “The Federal Reserve Sunshine Act of 2009,” because . . .

The Federal Reserve is a private institution, and Mary isn’t sure whether the federal government has the authority to conduct an audit.

So, just like that, Mary Landrieu’s office confirmed one of the most controversial assertions made by those of us who want to abolish the Federal Reserve. For years we have been told how wrong we are, that the Fed is most certainly an arm of the government.

It looks like Mary Landrieu agrees on that point. But now she is using it as a way to protect the bankers.

Hard to blame her, though. After all, they are the ones who put her in Washington.