Ahead of tomorrow's hearings on various Fed transparency initiatives, Rep. Elijah Cummings is calling for a complete tear down of the existing Fed structure, and demands an overhaul to the "minimal accountability" that the Fed is subject to courtesy of the current Wall Street perpetuated (and lobbied) status quo.
Full Cummings letter below. -- Zero Hedge
To read click "Fullscreen" (top center) then "Zoom +" (lower left).
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In what could be the biggest news of the day, with potentially historic consequences, Mel Watt's attempt to detour the Fed transparency process has been soundly denied. The vote on the final passage of the bill is delayed, but the critical amendment has passed. Congratulations to Messrs Paul and Grayson. -- Zero Hedge
Grayson Remarks On The Passing Of The Paul-Grayson Amendment As Well As A Full List Of Voters
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