re: #222 000G

Some serious discussion, from the Bloomberg article:

Yes, a lot of people are going to try to blame the Fed to cover their asses. Although the details and exact amounts just came out none of this should come as a surprise. It’s no surprise that “audit the Fed” stuff is popular with congess because they would love to expand their power. Given the recent revelations about insider trading from congress (which also shouldn’t come as a surprise) I don’t think giving them more insider information is a good idea. Also allowing them to manipulate monetary policy through oversight for political advantage is a recipe for disaster.
They get the information about Fed loans eventually but not in time to allow them insider trading opportunities or to allow them the possibility of intervening for political purposes (influencing elections, helping their home districts, etc).