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Congress Demands Bernanke’s Exit Strategy

kenneth416 Wrote: Feb 22, 2013 12:06 PM
Perhaps we should consider the Balance Sheets of the Federal Reserve and the U.S.Government on a consolidated basis--thus cancelling out one's liabilities with the other's assets. The result would not be pretty. Of course, no reputable CPA firm would attest to the Balance Sheet of the U.S.Government, because many of the agencies can not withstand a competent audit, most especially the Department of Defense.
Colonialgirl Wrote: Feb 22, 2013 6:41 PM
The Government doessn't even bother to use accepted accounting practices. If a private business did their accounting the same way, the owners/management would be in JAIL for fraud and theft.

In a long overdue, yet surprising move, Jim Jordan, chairman of the House Subcommittee on Economic Growth demands answers on Bernanke's exit strategy.

Rep. Jim Jordan (R-Ohio) is demanding that Federal Reserve Chairman Ben Bernanke explain exactly how he plans to wind down the Fed's massive portfolio once its run of bond buying comes...