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Thursday, May 7, 2009 1:52 PM UTC2009-05-07T13:52:00Zl, M j, Y g:i A T

What “oversight” means in Washington

The Federal Reserve has transferred trillions of dollars since last September, and nobody but the Fed knows what it did.

What "oversight" means in Washington

(updated below)

Since last September, the Federal Reserve has increased its balance sheet by more than $1 trillion, and has engaged in even much larger amounts of off-balance-sheet transactions.  In January of this year, freshman Rep. Alan Grayson repeatedly asked Federal Reserve Vice chairman Donald Kohn the identity of the companies which had received those loans, only to be told that the Fed had no obligation and no desire to disclose that information to Congress.  That obviously leads to the question of who exerts oversight over the Fed and the vast amounts of money it transfers.

One answer — the only real answer — is that the Fed’s activities are monitored by an Inspector General, which ostensibly “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)” which “promote integrity, economy, efficiency, and effectiveness; help prevent and detect fraud, waste, and abuse; and strengthen accountability to the Congress and the public.”  At minimum, then, one would assume that the Fed’s Inspector General is actively monitoring the extraordinary actions in which the Fed has been engaging since September.  After all, nobody else is monitoring or even can monitor any of that, since the Fed will not tell anyone what it is doing.

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Glenn Greenwald

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Monday, Aug 8, 2011 8:09 PM UTC2011-08-08T20:09:00Zl, M j, Y g:i A T

D.C. firm inks lucrative public-relations contract with Bahrain

As the Gulf monarchy cracks down on an international aid group, it hires Qorvis for $40,000-per-month P.R. job

Mideast Bahrain

A Shiite Bahraini woman gestures as others shout anti-government slogans outside a public forum Saturday, July 23, 2011, outside a religious community center in Sanabis, Bahrain, denouncing the alleged destruction and vandalizing of Shiite mosques, community centers and cemeteries during a government crackdown on a largely Shiite spring uprising. Clerics who spoke during the meeting, blamed Saudi Arabia for targeting religious sites, because they allegedly distrust their own Shia minority and sent forces to help quell the Bahrain uprising. (AP Photo/Hasan Jamali) (Credit: AP)

Bahrain is in the news again, this time for what appears to be the comically evil persecution of the humanitarian group Doctors Without Borders.

So, naturally, the ruling monarchy of the Gulf nation has hired a top Washington public relations firm to burnish (or attempt to salvage) its image, according to a new foreign agent registration filing. Qorvis Communications will be paid $40,000 per month, plus expenses, for the public relations work, according to a contract submitted to the U.S. Department of Justice.

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Justin Elliott

Justin Elliott is a Salon reporter. Reach him by email at jelliott@salon.com and follow him on Twitter @ElliottJustin  More Justin Elliott

Wednesday, Jul 20, 2011 3:21 PM UTC2011-07-20T15:21:00Zl, M j, Y g:i A T

Poll: Public sides with Obama on deficit

The potentially catastrophic effects of a default are finally sinking in with Americans

Barack Obama, John Boehner, Eric Cantor, Nancy Pelosi

In this July 14, 2011, file photo, President Barack Obama sits with House Speaker John Boehner of Ohio, House Minority Leader Nancy Pelosi of California, House Majority Leader Eric Cantor of Virginia, as he meets with Republican and Democratic leaders regarding the debt ceiling in the Cabinet Room of the White House in Washington, Thursday, July 14, 2011. Obama's decision to haul lawmakers in day by day to negotiate a debt deal comes down to reality: He has no other choice. The president has essentially cleared his agenda to deal with one enormous crisis. (AP Photo/Charles Dharapak) (Credit: AP)

Most Americans want to see a compromise on the debt ceiling, according to a new NBC/Wall Street Journal poll.

62 percent of self-identified Democrats said they would want Democratic leaders in the House and Senate to make compromises to gain consensus on the current budget debate, while only 43 percent of Republicans want to see their party leaders concede some of their positions. However, around 70 percent of independent respondents said they wanted to see both parties compromise.

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Natasha Lennard is Brooklyn-based writer and a project officer for the International News Safety Institute - North America.   More Natasha Lennard

Wednesday, Jul 13, 2011 4:14 PM UTC2011-07-13T16:14:00Zl, M j, Y g:i A T

Lobbyists are overtaking Congress

Since the GOP takeover, the number of lobbyists in congressional staff positions has more than doubled

Lobbyists are overtaking Congress

(Updated below)

A new report from the Center for Responsive Politics (CRP) looks at the pervasiveness of former lobbyists now working in congressional staff positions. The number of former lobbyists in Congress has more than doubled between the last Congress and the current one, with a significant partisan skew. In the current 112th Congress, 79 former lobbyists work for Republicans while 48 for Democrats; during the Democratic-led 111th Congress (which ran from 2009-2010), 33 worked for Democrats, while 27 worked for Republicans.

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Natasha Lennard is Brooklyn-based writer and a project officer for the International News Safety Institute - North America.   More Natasha Lennard

Friday, Jun 24, 2011 7:01 PM UTC2011-06-24T19:01:00Zl, M j, Y g:i A T

Shariah law instituted steps from the White House!

Predicting an overblown right-wing outrage

Do I spot crescents in this CityCenterDC promotional brochure?

Do I spot crescents in this CityCenterDC promotional brochure?

There is a giant real estate development happening in downtown Washington, D.C., near the White House, on the site of the old convention center. Boring news for non-D.C. residents. But I’m willing to bet that the CityCenterDC complex — office space, retail, condos, your standard massive downtown “revitalization” project — will soon be very interesting to a lot of people who don’t live in the area. Not because anyone cares about urban land-use issues, but because of one of the project’s investors: Muslims.

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Alex Pareene

Alex Pareene writes about politics for Salon. Email him at apareene@salon.com and follow him on Twitter @pareene  More Alex Pareene

Tuesday, Jun 14, 2011 5:01 PM UTC2011-06-14T17:01:00Zl, M j, Y g:i A T

What line between civilian and military authority?

An increasingly powerful Pentagon is taking over the culture of Washington

U.S. President Barack Obama meets with troops at Bagram Air Base, December 3, 2010.

U.S. President Barack Obama meets with troops at Bagram Air Base, December 3, 2010.

I have a fairy tale for you. Once upon a time, a representative democracy was established with a constitution that distilled the wisdom of the ages. Its foundational principles included civilian control of the military and a system of checks and balances that encouraged vigorous public debate as a basis for effective policy-making.

In this fabled land, the role of civilian leaders was, in part, to serve as a check on military ambition and endless wars. They were to prove cautious, too, in committing their citizen-soldiers to battle, and when they did, they would issue Congressional declarations of war so that everyone could grasp the nature of the national emergency at hand and the necessity of military action. In waging war, they would rely on shared sacrifice and even raise taxes. When necessary, it was their job to rein in or even remove military leaders who acted like Caesar (read: General Douglas MacArthur) rather than Cincinnatus (read: General George Washington).

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William J. Astore is a retired lieutenant colonel. He has taught cadets at the U.S. Air Force Academy, officers at the Naval Postgraduate School, and currently teaches at the Pennsylvania College of Technology. He is the author of "Hindenburg: Icon of German Militarism," among other books. He may be reached at wastore@pct.edu.  More William Astore

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