When questioned by Congressman Grayson, Fed Reserve Inspector Gen. Coleman gave us her best Alberto Gonzalez impression.
here is the link to the original video posted at HuffPo
The inspector general tasked with overseeing and auditing the Federal Reserve knows pretty much nothing about what the Fed is doing. That's the conclusion that comes from watching the exchange Tuesday between Rep. Alan Grayson (D-Fla.) and inspector general Elizabeth A. Coleman.
Huffington Post
It gets worse below the fold
This is inexcusable, and a pathetic failure by our system of checks and balances. Watch our Federal Reserve Inspector General totally FAIL at having a clue at all about anything that has to do with her job.
In a rather unnoticed bit of news reported by the Huffington Post, the person who is in charge of monitoring the Federal Reserve banks is apparently entirely unaware about that part of her job description. In fact, she seems unaware of just about everything that goes on at the Federal Reserve. The failure echoes throughout the universe still, and shall continue to do so for all time.
Did Rep. Grayson catch Elizabeth Coleman in a gotcha moment? Not at all. Elizabeth Coleman has been the Inspector General for two years now. Her bio reads below
Elizabeth A. Coleman was appointed Inspector General for the Board effective May 6, 2007. In this role, 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, 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 eight years, Ms. Coleman has worked closely with the Executive Council on Integrity and Efficiency, a professional organization of about thirty statutory Inspectors General who are appointed by their agency heads in certain designated federal entities, including the Board.
Prior to joining the Board's staff, she 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.
www.federalreserve.gov/
I mean, come on, you have got to be frigging kidding me!
She did not know where the Fed has invested its $2 trillion on the liability side of the balance sheet. "I do not know. We have not looked at that specific area at this particular point on," she said.
"We do not have jurisdiction to directly go out and audit reserve bank activities specifically," she said, though the IG's Web site proudly declares that her office "conducts independent and objective audits, inspections, evaluations, investigations, and other reviews related to programs and operations of the Board of Governors of the Federal Reserve System."
HuffPo Article Quoted from the link above
Imagine hiring an accountant who did not know they were an accountant, or even allowed to count your money.
It's like hiring a security guard who doesn't know he is allowed inside the bank.
WTF?
I am fed up with clueless oversight that gives a free pass to
Where do they get these people? Heckuvajob Brownie at least knew that he was the head of FEMA, he was just horribly incompetent. Inspector General Elizabeth Coleman has no idea at all what her job is, how can she possibly succeed in doing it?
How can we get rid of this dingbat and put in her place someone who is smart and capable enough to do a good job?
The Office of Inspector General (OIG) conducts independent and objective audits, inspections, evaluations, investigations, and other reviews related to programs and operations of the Board of Governors of the Federal Reserve System (Board). OIG efforts promote integrity, economy, efficiency, and effectiveness; help prevent and detect fraud, waste, and abuse; and strengthen accountability to the Congress and the public. The OIG’s work assists the Board in managing risk and in achieving its overall mission to foster the stability, integrity, and efficiency of the nation’s monetary, financial, and payment systems so as to promote optimal macroeconomic performance.
federalreserve.gov/oig/
Where the hell do they get these people?
I always suspected this is kind of how these things work.
FW: The American Public
To: The Federal Reserve
Re: WANTED: PEOPLE WHO KNOW WHAT THE FUCK THEY ARE DOING!