Rep Grayson Grills The Fed's Ms. Coleman Over Missing Trillions

Way back in May 2009, we posted this video of (then) Congressman Alan Grayson questioning Elizabeth Coleman, the Fed's "inspector general" – whatever that means – over trillions that the Fed could not seem to account for. Today, Grayson is gone from Capitol Hill but his video legacy lingers ...

Now we're reposting it as an accompaniment to one of today's stories, entitled "Bernanke Mulls Military Protection for Embattled Fed?" We mentioned Grayson in the story and we decided we might as well repost what we consider the video that may, in retrospect, be the one of the most important in helping end the modern Fed.

It is in our view one of the most miserable performances by a top bureaucrat ever presented on YouTube. It is truly historical in its incompetence. And in fact, it shows how much contempt Fed top guns had for the American public – that they could send this person to Capitol Hill to represent the majesty of America's mightiest bank!

Since that time, the Fed's brain-trust has obviously had a "rethink." Bernanke, ever more frantically peripatetic, is now the publicist-in-chief. No, they are not so arrogant anymore. The Internet Reformation has begun to bite.

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