Home > Audit the FED, Bailouts, Debt, Dollar, Economics, Economy, End the Fed, Federal Reserve, Fraud, Hyperinflation, Inflation, Money, The Fed > Federal Reserve Inspector General Elizabeth Coleman Doesnt Have A Clue What Happend to Trillions of Your Dollars.

Federal Reserve Inspector General Elizabeth Coleman Doesnt Have A Clue What Happend to Trillions of Your Dollars.

Rep. Alan Grayson asks the Fed Inspector General Elizabeth Coleman about the trillions of dollars lent out by the Federal Reserve Bank.  You have to listen to her complete ignorance to get a full picture of how fraudulent the Federal Reserve Bank really is.  If this makes you angry then I suggest you contact your congressman and demand answers.

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  1. May 7, 2009 at 1:21 pm

    I wouldn’t expect an Inspector General of any organization to be able to “follow the money.”
    It’s NOT their job. To determine the validity of
    your criticism, I went on the Fed’s website to
    find the job description for the IG’s office…

    The Board of Governors’ Office of Inspector General (OIG) functions in accordance with the Inspector General Act of 1978, as amended. In addition to retaining an independent auditor each year to audit the Board’s financial statements, the OIG plans and conducts audits, reviews, and investigations relating to the Board’s programs and operations and its delegated functions at the Federal Reserve Banks. The OIG also reviews existing and proposed legislation and regulations for their impact on the economy and efficiency of the Board’s programs and operations. It recommends policies, and it supervises and conducts activities to promote economy and efficiency and to prevent and detect waste, fraud, and abuse in Board and Board-delegated programs and operations, as well as in activities administered or financed by the Board. The OIG keeps the Congress and the Chairman of the Board of Governors fully informed about serious abuses and deficiencies and about the status of any corrective actions.

    In this description, there isn’t any reference to Ms. Coleman’s obligation to keep track of the bailout of
    the financial sector nor the funds designated to do so.
    However, I am sure you’ll misconstrue the facts since you are bent on an “end to the Fed.”

    Perhaps, someone ought to look at the mess Congress got us in in 1999 when in its wisdom it repealed the Glass-Steagall Act and turned a blind eye to repeated requests from the Fed to shore up regulatory loop holes like Chairman Bernanke referred to in his recent testimony where he admiited that he
    “was angry.”

    Keep washing your hands of responsibility…your hands will Never Come nor Be Clean.

  2. Narro Libertas
    May 7, 2009 at 1:55 pm

    M Tailor, I have no clue why you would defend this sickly organization called the Fed, They are crooks stealing from every transaction conducted in US dollars. The Federal Reserve Bank operates a PONZI scheme and YES it must come to an end. A debt based monetary system is completely fraudulent. TRILLIONS OF DOLLARS are unaccounted for and there is no one who has a clue what is going on. That is the issue here!!!!!

    You quoted:

    “It recommends policies, and it supervises and conducts activities to promote economy and efficiency and to prevent and detect waste, fraud, and abuse in Board and Board-delegated programs and operations, as well as in activities administered or financed by the Board. The OIG keeps the Congress and the Chairman of the Board of Governors fully informed about serious abuses and deficiencies and about the status of any corrective actions.”

    Are you telling me that OIG wouldnt be advised of where the TRILLIONs went? How does it detect fraud then? How does it detect waste? If its not OIGs job then we dont need OIG, because apparently they dont do a damn thing. However, someone, I don’t care who, better tell the American people where all this money went.

    Lastly, M Tailor, please dont cry to me when your fiat dollars don’t buy you the same goods 5 years from now…

  3. Dayle
    May 7, 2009 at 2:22 pm

    m. tailor, what about:

    “It recommends policies, and it supervises and conducts activities to … *prevent and detect waste, fraud, and abuse in Board and Board-delegated programs and operations* … keeps the Congress and the Chairman of the Board of Governors fully informed about serious abuses and deficiencies and about the status of any corrective actions.”

    That’s pretty much EXACTLY what we’re talking about here. Did you not yourself read the job description you so confidently pasted into your comment? I think the Fed is of vital importace to our financial system – that’s why mis- and malfeasance must be noted, evaluated and prevented in the future.

    Sure, the repeal of Glass-Steagal was foolish, but that doesn’t let the fed off the hook for throwing good money after bad, then trying to keep a lid on it. If they’re going to hold forth on the virtue of transparency, they ought to be able to practice a little of their own sermon in the present.

  4. Narro Libertas
    May 7, 2009 at 3:30 pm

    I wouldn’t say the Fed is of any importance to our economy, we were better off without it in the 1800s. They also were the root cause of the great depression as well as our current depression. The Glass-Steagal act has nothing or very little to do with our current situation. The cheap credit pushed into the market by Greenspan and the malinvestments that follwed were. Now Bernanke is doing the same thing except he is lending out trillions to other foreign central banks. Since we cant audit the Fed we don’t know exactly who is getting this money. I am ceratin that Americans will not be happy when they find out the fraud behind it all. HR 1207 is a good place to start.

  5. herold_5
    May 11, 2009 at 11:12 am

    Who is the woman behind her?

  6. May 26, 2009 at 10:26 am

    What is really disturbing about all of this is that the American people are so happy with their American Idol, Internet Porn and video games that they really don’t seem to care that we are flushing the future of our children down the drain.

  7. Ron_Paul_Fan
    June 13, 2009 at 1:02 am

    Contact your rep!
    Audit the Fed.

    Congress is a lock
    Email your Senator.

  8. Robert
    June 16, 2009 at 2:50 pm

    She not only does not have a clue where the $trillions went, … she doesn’t have a clue PERIOD! Who nominated this idiot?

  9. Narro Libertas
    June 16, 2009 at 4:25 pm

    She was appointed by the Board of Governors of the Federal Reserve. That’s right, the same crooks that are trying to hide all the details of their shady trillion dollar transactions. This is the biggest fraud in the history of mankind and is not something to take lightly.

  10. Pat
    July 16, 2009 at 6:06 am

    ” The Office of Inspector General (OIG) is also responsible for preventing and detecting waste, fraud, and abuse at the Board, ”

    ————

    People like Ms. Coleman get elected to their positions not based on their ability or integrity, but based on their willingness to do whatever their master tells them to.

  11. Craig
    August 26, 2009 at 9:54 am

    Pat, she was not elected. she was set on the governing boards knee just like a puppet by an method called an “appointment”. if it were an elected official there would be an impeachment. She is only a puppet and a scape goat. I wonder how much of this she is hearing for the first time?
    Wouldn’t it suck, if the people you worked for and trusted let you crash and burn like the governeors of the reserve are doing to her? she is the symptom. I believe the disease is much deeper than the General Inspector. We need to get teh cancer out of the marrow!

  12. Luke
    September 2, 2009 at 8:39 am

    So is this right? – The guys who are being watched (The Board of Governors who run the Federal Reserve) are the ones who appoint the watchdog (ie. the Inspector General)? If that be the case, why should we wonder why she dodges the questions. she would in essance be nothing more than a face and a buffer for these guys so they can say they have some form of “checks and balances” in place. Does the old addage of “Letting the Fox Watch the Hen House” ring a bell?

  13. Narro Libertas
    September 25, 2009 at 11:52 pm
  14. notanamericansheeple
    November 17, 2009 at 7:41 pm

    DID ANYBODY NOTICE THERE WAS A WOMAN GIVING HER AWNSERS AND THEN DIRECTLY BEHIND HER ANOTHER SAWED-OFF PRICK WAS GIVING THAT WOMAN AWNSERS??? YOU ARE ALL MISSING THE POINT THAT THE PERSONS WE THINK MAKE DECISIONS ARE PAWNS AND DO NOT. IN FACT, WHY DO FIRFIGHTERS AND COPS HAVE TO TAKE LIE DETECTOR TESTS WHEN ELECTED OFFICIALS, OVERSIGHT COMMITTEES, AND TRUSTED FINANCIERS WHO OPERATE ON TAX-BASES DO NOT??? WE ARE IN SERIOUS TROUBLE HERE AND THE FACT IS HISTORY REPEATS ITSELF, MAYBE THAT IS WHY WE ARE BECOMING LESS INTELECTUAL AS AMERICANS. I BALME A QUIET TONGUE, A FEEBLE MIND, AND A LACK OF CONCERN IN THESE MATTERS

  15. Doug Granger
    February 2, 2011 at 12:34 pm

    This situation is appalling! The American people have still not been given a full accounting of the bailout funds: what funds have been repaid, what are outstanding and by whom.
    A recent inquiry to the Treasury Department failed to yield any meaningful response-just links that led nowhere.

    If this is government in action I can understand why people are so upset.

    Doug

  16. Narro Libertas
    February 11, 2011 at 8:39 pm

    It’s time to END THE FED folks! Nothing has gotten better in 2 years and these crooks are only printing more money without our consent or oversight.

  17. Outraged
    February 20, 2011 at 7:15 am

    This woman is clueless. She should have been fired right after this hearing. She and the rest of the government should be impeached and we should start over

  18. Bob M
    April 30, 2011 at 6:55 pm

    American is bankrupt; Congress & the FED brought us to this unthinkable end. Ron Paul is right this is our revolution and we better get involved to save liberty or
    it will be lost to us and our children forever. GOD help us!
    My belief is Ron Paul is one of the few dsytany (sp)has choosen to stir our souls and shed light on what Washington is doing to us.

  19. Narro Libertas
    July 29, 2011 at 2:38 am

    I wonder if m. taylor is happy about the food and gas price increases just 2 years later?

  20. August 18, 2011 at 8:07 pm

    Narro Libertas :
    She was appointed by the Board of Governors of the Federal Reserve. That’s right, the same crooks that are trying to hide all the details of their shady trillion dollar transactions. This is the biggest fraud in the history of mankind and is not something to take lightly.

    Prior to joining the Board’s staff, she was employed by the Government Accountability Office. Not sure what you said is true.

  21. Narro Libertas
    August 19, 2011 at 12:16 am

    FinalMythology:

    Prior to joining the Board’s staff, she was employed by the Government Accountability Office. Not sure what you said is true.

    Yes it is true!

    http://www.federalreserve.gov/oig/oig_bio.htm

    Elizabeth A. Coleman was appointed Inspector General for the Federal Reserve Board effective May 6, 2007. Pursuant to the Inspector General Act of 1978, as amended, Ms. Coleman leads a staff responsible for promoting economy, efficiency, and effectiveness within Board programs and operations. The Office of Inspector General (OIG) is also responsible for preventing and detecting waste, fraud, and abuse at the Board, among other duties. The OIG achieves its legislative mandate through audits, evaluations, investigations, and legislative reviews, and by keeping the Chairman of the Board and Congress fully informed.

    Ms. Coleman joined the Board’s OIG in 1989 as a senior auditor. She was promoted to program manager in 1999 and to senior program manager in 2001. She was appointed to the official staff in 2004, as the Assistant Inspector General for Communications and Quality Assurance. Over the last ten years, Ms. Coleman has worked closely with the Council of the Inspectors General on Integrity and Efficiency (CIGIE), a professional organization comprised of about sixty statutory Inspectors General who were formerly members of the President’s Council on Integrity and Efficiency and the Executive Council on Integrity and Efficiency (ECIE). Collectively, the members of the CIGIE help improve government programs and operations.

    Prior to joining the Board’s staff, Ms.Coleman was employed by the Government Accountability Office. Ms. Coleman has a BBA from James Madison University and is a graduate of the Stonier Graduate School of Banking, Georgetown University. She also attended the Federal Reserve System’s Trailblazers Leadership Conference. Ms. Coleman is a Certified Information Systems Auditor.

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