It's
been up on YouTube for only five days, and already, over 150,000 people
have watched it. What is it? Congressman Alan Grayson's grilling of the
Inspector General of the Federal Reserve Bank. You can see it by clicking here.
In
just five minutes, Congressman Grayson exposes the fact that the
Inspector General knows nothing about the $1,000,000,000,000 (one
trillion dollars!) that the Federal Reserve has disbursed since last
September, or the $9,000,000,000,000 in guarantees that the Fed has
handed out to its favorite banks since then - and, she doesn't really
care. See for yourself.
As the Huffington Post reported,
the Fed's Inspector General "could not tell Grayson what kind of losses
the Fed has suffered on its $2 trillion portfolio, which has greatly
expanded since September. She appeared unaware that the Fed engages in
trillions of dollars in off-balance-sheet exchanges. She is not
investigating the role of the Fed in allowing the collapse of Lehman
Brothers. She did not know where the Fed has invested its $2 trillion."
Back in January, Congressman Grayson asked the Fed's Vice Chairman who had received all that money from the Fed. The Vice Chairman wouldn't say. Now it turns out that he hasn't even told the Inspector General.
That
January exchange between Grayson and the Fed drew 60,000 views on
YouTube in three days. According to the Washington Post, it made
Congressman Grayson an "internet celebrity." But this new video on
YouTube has gone beyond that, with 150,000 viewers and counting. The
day after it was posted, it was the third most-viewed news video on all
of YouTube. It has drawn over 1000 online comments, at YouTube, the
Huffington Post and elsewhere. On Monday, CNBC told viewers to go to
YouTube and "check it out."
And
this is one hearing that will make a difference. For years, Congressman
Ron Paul's bill to audit the Federal Reserve Bank (H.R. 1207) has
languished. The bill didn't have a single Democratic co-sponsor until
Congressman Grayson announced his support. Now Alan is using this
hearing to build bipartisan support for the bill.
Listen to these online comments:
"Rep. Alan Grayson is a REAL leader."
"I'm loving this guy! Keep up the great work, Rep. Grayson."
"Way to go, Grayson! Make them squirm!"
"Alan Grayson is really cool. He asks real questions."
"Very well done, Rep. Grayson. Excellent questions, very simple and succinct."
"Rep. Grayson! Way to keep the heat on that lying thief."
"Thank you, Rep. Grayson. Keep up the good work! I am now a supporter."
"Grayson is terrific in these hearings. Always reasonable, important
questions, always well-prepared, always demands answers. What a great
legislator!"
As
the National Journal said in its profile of Congressman Alan Grayson,
Alan is a "watchdog to be watched." Alan is the first new member of the
House of Representatives to pass a bill this year - an important bill
cracking down on undeserved bonuses at failed, Government-owned banks.
In hearing after hearing, Alan has asked the hard questions that you
would ask if you were there.
Alan has accomplished more in his
first four months than his predecessor did in four terms. Alan has used
his position on the House Financial Services Committee just as he said
he would -- to protect the taxpayers. To protect us. Go, Alan!