Recovery law allows Fed to rope off public as it spends billions


 

(From Politico)

Tucked into the recent recovery bill was a provision granting the Federal Reserve the right to set up a $450 billion bailout plan without following key provisions of the federal open meetings law, including announcing its meetings or keeping most records about them, according to a POLITICO review of the legislation….

…The changes at the central bank – which appear to have been inserted into the 880-page bill by sympathetic senators during the scramble to get it approved — would address a complaint that the Fed faced during the 2008 financial crisis, when board members couldn’t easily hold group conversations to address the fast-moving economic turmoil.

Click here for the article.

Reprinted from: https://www.ac2news.com/2020/04/recovery-law-allows-fed-to-rope-off-public-as-it-spends-billions/

Leave a Reply

avatar
  Subscribe  
Notify of

More from Against Crony Capitalism: