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Congressman Vs. Federal Reserve Auditor

Monday, 11 May 2009 | 2:51 PM ET

My colleague Rick Santelli found this clip on YouTube.

Rep. Alan Grayson asks the Federal Reserve Inspector General Elizabeth Coleman about the trillions of dollars lent or spent by the Federal Reserve and where it went, and the trillions of off balance sheet obligations.

Interesting exchange. No doubt some would argue it betrays a lack of oversight by the government. Others could counter, however, that the IG was simply following the protocols of her agency.

You can tell from the video, also, that the hearing was pretty sparsely attended. Points up the change in our journalistic world, where reporters can't be everywhere, yet YouTube can sometimes pick up the slack.

Thanks, Rick.

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