Federal Reserve rejects request for public review

[lib2DaBone]

Can they get away with this? Are there no Sunshine laws or Freedom of Information Laws when it comes to Taxpayer money?
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The institution which creates and oversees America's currency wants to keep a "low profile," according to a published report on Monday, and may willing to dodge the U.S. Treasury in order to do so.

According to Bloomberg News, the Federal Reserve Bank will not submit to a voluntary public study of its internal structure and methods of governance, as it was requested to do so by Treasury Secretary Timothy Geithner.

Geithner is the former New York Federal Reserve Bank chairman. The review he requested is part of President Barack Obama's financial regulatory reforms, which he proposed in mid-June. Part of those reforms would have studied the Fed's "ability to accomplish its existing and proposed functions" -- a proposal the bank's board of governors appears to have flatly rejected.

"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," noted Reuters.

http://rawstory.com/blog/2009/09/fed-rejects-geithner-request-for-public-review/

[RC]

1. All the more reason to rip it open to the light or the noon day Sun.