News stories on August 19 reported that Neil Barofsky, Special Inspector General (SIG) of the U.S. treasury Department’s $700 billion Troubled Asset Relief Program (TARP), had agreed to audit the $301 billion of federal asset guarantees extended to Citigroup Inc. since last November.
The real number of unemployed in the United States is far more than the federal government’s official count and the recovery could be long and tenuous, a Federal Reserve official told the Chattanooga, Tennessee, Area Chamber of Commerce last week in a speech that received some media attention.
The Federal Communications Commission is launching an investigation of the nation’s wireless industry to root out any anti-competitive practices and to decide what regulations should be imposed for the supposed benefit of consumers, Wired reported on August 27.
A federal court ordered the secretive Federal Reserve (Fed) to hand over documents about its “emergency” lending programs Monday under a Freedom of Information Act (FOIA) suit filed by Bloomberg LP. But the Fed’s board of governors is resisting.
President Barack Obama on August 25 renominated current Federal Reserve Chairman Ben Bernanke to another four-year term as Chairman of the Federal Reserve Board of Governors, but free-market economists have concluded that Bernanke's policies are creating the seeds of another economic crash.