Fed Independence in Action – Bernanke Met With 26 Lawmakers Prior to Vote

posted by Nima

January 30, 2010 · Posted in Politics

To those hopelessly lost, twisted, and clueless souls who seriously believe that 1. Fed independence (=secrecy) is a good thing and 2. the Fed is actually in any way, shape, or form independent from the government: Maybe the fact that Bernanke Met With 24 Senators After Renomination as Fed Chief will interest you:

Federal Reserve Chairman Ben S. Bernanke had conversations with 18 of the 23 legislators on the Senate Banking Committee prior to their 16-7 vote this month to recommend that the full Senate confirm him to a second term.

The Fed chief had contact with 24 senators between August 4 and Nov. 30, almost all at congressional office buildings, after his Aug. 25 nomination to another four-year term as chairman by President Barack Obama. The meetings and phone calls were listed in a daybook provided by the Fed yesterday in response to Freedom of Information Act requests by Bloomberg News.

…

Bernanke also met with House lawmakers, including Majority Leader Steny Hoyer of Maryland and John Larson of Connecticut, chairman of the House Democratic Caucus. He lunched with Republican members of the House Ways and Means Committee on Sept. 16, and spoke the same day at a Rhode Island Business Leaders Day event sponsored by Senator Jack Reed, a Democrat on the banking committee.

Aaah yes, that smacks of independence indeed …