As you all know the Federal Reserve is supposed to be independent.
Ben Bernanke's head is so far up Goldman Sachs CEO Hank Paulson's ass (oops, I mean US Treasury Secretary Hank Paulson's ass) that they might as well be the same person.
The truth will eventually come out as to Paulson and Bush's role in the Bear fiasco, their commitment with no Congressional approval of $29 billion in taxpayer funds to bail out Bear Stearns, and the ongoing coordination between the Fed and the Treasury to bail out Paulson's investment banker gambler buddies using taxpayer money.
And now, shockingly, our corrupt Congress is going to investigate this matter. What, didn't Grassley get his hush money this month?
Grassley Asks Whether Paulson Pushed Fed Into Bear Stearns Deal
The top Republican on the Senate Finance Committee said he wants to know whether Treasury Secretary Henry Paulson pressured Federal Reserve Chairman Ben S. Bernanke into brokering the deal that allowed the sale of Bear Stearns Cos. to JPMorgan Chase & Co.
Iowa Senator Charles Grassley, who will be involved in one of two congressional inquiries into the deal, asked in an interview with Bloomberg Television yesterday whether Paulson pushed Bernanke into authorizing the $29 billion loan needed to make the sale or if the agreement was the result of an ``independent Fed decision.''
``We want to know the extent to which Paulson was involved in the deal,'' Grassley said. ``The extent to which this was a political decision by a political branch of government that was urged on the Fed is very important to me -- that that not happen.''