The news has been out for a while: The Federal Reserve has announced plans to hire a veteran lobbyist to help improve its image. As Bloomberg reports, there is an ironic twist to the story. The Fed apparently has its heart set on hiring Linda Robertson, who was head of the lobbying office of Enron, the defunct energy behemoth which was found to be largely corrupt right before its rapid demise in 2002.
Wait a second. The most important monetary concern of the government (besides the IRS) is going to have someone who lobbied for a corrupt corporation as its voice to Congress?
It's obvious the Fed isn't in earnest. When a government subsidy so large and important has to hire a private lobbyist--in essence, a third wheel--to clear up its own reputation, something is clearly wrong. Sen. Ron Paul (R-TX) has authored a bill called the Federal Reserve Transparency Act and calls for auditing the Fed.
The Fed doesn't need a lobbyist--it needs an audit and a new approach. Some would say it should be ended altogether. With news stories like this, maybe they're right.
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