Finally in late October of last year, John P. Carlin, assistant attorney general for national security said; “While our top priority will always be combating terrorism, we must also sharpen our focus and increase our attention on the emerging threats of economic espionage and proliferation.”
Atty. Gen. Eric H. Holder Jr. and FBI Director James Comey warn that cyber crime poses one of the gravest threats to the U.S., particularly if the country’s economic system is hacked into.
A profile of complicity,
Washington (CNN) -- Attorney General Eric Holder said that he found it "frustrating" that the Justice Department hasn't been able to carry out criminal prosecutions of executives whose risky banking practices blamed for the global financial crisis.
Eric Holder, acknowledged that the lack of criminal prosecutions of executives "is something that is frustrating." He added "The American people should understand we looked at those matters, tried to come up with ways in which we could hold people and institutions accountable,".
Senate Banking Committee Chairman Richard Shelby, R-Alabama, was critical of what he described as secrecy at the Fed. Shelby, said in his opening remarks that a prolonged delay in raising rates "could lead to a more painful correction down the road."
"What the (Fed) is thinking and how they are analyzing this very difficult problem set remains a mystery," Shelby told Yellen. "I would argue ... that there is an even greater need now for additional oversight by Congress and further reforms" of the Fed.
Conservative Republicans in both the House and Senate have been pushing for legislation that would grant the Government Accountability Office the power to audit the central bank's decisions on monetary policy. Yellen and other Fed officials have opposed the proposal, saying it could compromise the Fed's independence.
If the FOMC was effectively printing money to buy government bonds. What could be the reasoning behind not opening up the Federal Reserves books?
From its creation, the Federal Reserve has operated in the shadows without true oversight of its operations. Accepting that it’s a powerful part of the United States economy, and its decisions impact every working American. Why don't working taxpayers deserve to know how their money is being used and, in many cases, abused? Who is continuing this government institution that is in some ways more secretive than the CIA and more powerful than the President or Congress?