The Lone Voice of Sanity on the Federal Reserve Board

The US must fix its growing debt problems or risk a new financial crisis, Thomas Hoenig, president of the Federal Reserve Bank of Kansas City, warned on Tuesday, adding a mounting deficit could spur inflation.

Without pre-emptive action, the US risks its next crisis,� Mr Hoenig said in a speech at the Pew-Peterson Commission on Budget Reform.

Source:
http://www.ft.com/cms/s/0/c918b8dc-1b37-11df-953f-00144feab49a.html

New York Fed Told AIG to Limit Backdoor Bailout Disclosure

The Federal Reserve Bank of New York, then led by Timothy Geithner, told American International Group Inc. to withhold details from the public about the bailed-out insurers payments to banks during the depths of the financial crisis, e-mails between the company and its regulator show. ...

Source:
http://www.bloomberg.com/apps/news?pid=20601087&sid=aXIvW4igKV38&pos=1