Now's as good a time as any to announce that I'm working for Alan Grayson (FL-8) as his senior policy advisor.
The Financial Services Committee had a hearing yesterday with a variety of witnesses, and one of them was the Vice Chair of the Federal Reserve, Donald Kohn. The Fed has lent out $1.2 trillion over the last few months in response to the credit crisis, and won't tell anyone who they lent the money to.
If you haven't already, watch this clip, it gets good.
We need your help. About a half hour after this hearing, I got a call from the VP of Public Policy for a major bank, who assured me that they have taken no capital aside from ordinary discount window financing from the Fed.
Where do you think this money went? What kinds of questions should we pursue?