If the Fed is Wall Street’s bitch, than Congress is the Street’s whore.
You can see why going to DC is probably a good way to get my ass thrown in jail. Most scenarios I envisioned end with me trying not to respond with a list of the campaign donations that were made to the congressional questioner. I pictured myself responding not to the “Senator from the great state of Texas,” but rather, to the “Senator representing the great state of AIG.”
That's Fed critic Barry Ritholz explaining why he turned down an invitation to testify before the House Financial Services Committee. The committee is holding hearings on Ron Paul's proposal for congressional audit of the Fed--a proposal that conservative Bruce Bartlett calls a "crackpot idea."