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Did Janet Yellen Just Ban A Reporter From The Fed Press Conference For Asking "Difficult" Questions
Ripped from the pages of "House Of Cards," it appears that the asking of difficult questions of she-that-shall-be-obeyed is entirely unacceptable to Janet Yellen and her Fed.
In March - the last Q&A session post-FOMC statement, Dow Jones reporter Pedro da Costa dared to ask about The Fed's leaking of crucial details about FOMC decisions to a newsletter and its subsequent refusal to comply with Congressional demands for those details.
The difficult question starts at around 45:30 - look at Yellen's face when asked the question for a clue as to her next move.
Yellen displeased:
PEDRO DA COSTA. Pedro da Costa with Dow Jones Newswires. I guess I have two follow-ups, one with regard to Craig’s question. So, before the IG’s investigation, according to Republican Congressman Hensarling’s letter to your office, he says that, “It is my understanding that although the Federal Reserve’s General Counsel was initially involved in this investigation, the inquiry was dropped at the request of several members of the FOMC.” Now, that predates the IG. I want to know if you could tell us who are these members of the FOMC who struck down this investigation? And doesn’t not revealing these facts kind of go directly against the sort of transparency and accountability that you’re trying to bring to the central bank?
CHAIR YELLEN. That is an allegation that I don’t believe has any basis in fact. I’m not going to go into the details, but I don’t know where that piece of information could possibly have come from.
PEDRO DA COSTA. If I could follow up on his question. I think when you get asked about financial crimes and the public hears you talk about compliance, you get a sense that there’s not enough enforcement involved in these actions, and that it’s merely a case of kind of trying to achieve settlements after the fact. Is there a sense in the regulatory community that financial crimes need to be punished sort of more forcefully in order for them to be—for there to be an actual deterrent against unethical behavior?
CHAIR YELLEN. So, the—you’re talking about within banking organizations? So, the focus of regulators—the banking regulators—is safety and soundness, and what we want to see is changes made as rapidly as possible that will eliminate practices that are unsafe and unsound.
We can’t—only the Justice Department can bring criminal action, and they have taken up cases where they think that that’s appropriate. In some situations, when we are able to identify individuals who were responsible for misdeeds, we can put in place prohibitions that bar them from participating in banking, and we have done so and will continue to do so.
True... and the Justice Department can also bring a criminal probe for leaks at the Fed itself as was disclosed shortly after the above exchange, a probe which may very well implicate anyone, including Janet herself hence her eagerness to avoid any "touchy" questions today.
Social media had already asked whether Mr. da Costa would be allowed back:
The big FOMC Question today: will Janet take questions from @pdacosta after he was a big meanie recently?
— Volatility B$ (@nelson3748) June 17, 2015
And his response:
@nelson3748 (Too) easy answer: @pdacosta won't even be there.
— Pedro da Costa (@pdacosta) June 17, 2015
As a result of all this, Mr. da Costa - with no apparent reason given - was not 'invited' to today's FOMC Press Conference (but had a request of his fellow press corps):
Fellow Fed reporters: Not attending today's press conference but please don't forget to press Yellen on handling of possibly-criminal leak.
— Pedro da Costa (@pdacosta) June 17, 2015
But why would they if merely asking the almighty Yellen what the state of the Fed's now officially criminal investigation, is enough to get them barred?
As a reminder, two weeks ago we reported the Committee on Financial Services subpoenaed the Fed for records related to the central bank’s review. The Fed declined to comply in full citing the ongoing criminal investigation. More specifically, Yellen says the OIG has advised the Fed that providing access to the information requested by congress would risk "jeopardizing the investigation." As in "Yellen refused to comply."
the Fed says it cannot comply with a Congressional subpoena regarding an alleged leak due to the fact that producing the requested documents could ultimately result in... a leak.
Of course this could all be coincidence, but do we know if any other reporters who have been dis-invited? Is there a room constraint that means a Dow Jones reporter is squeezed out by BuzzFeed or TMZ?
And now back to praising the freedom of speech and press in the land with the great and almighty First Amendment... which is granted to everyone as long as they remember to never actually use it.
That, and of course hearing the "questions" of that other WSJ/Dow Jones staffer, Jon Hilsenrath, who will surely be present and maybe ask Yellen for a follow up to his legendary op-ed asking why US consumers are so "stingy" despite 7 years of Fed central planning and "wealth effect."
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This was the first time I actually heard her voice. She sounds like a mobster, which is fitting.
You would think that someone would coach one of the nation's highest sitting puppets to at least pronounce "to" properly.
Who ultimately owns the regional Fed banks? Is it all Jews, or just mostly?
If its all or mostly jews, do the 97.5% have any right to protest, o would that be "anti-Semetic {hegemony}"?
Are you Yellen? http://youtu.be/qGErnbAVqGs?t=0s
What’s wrong dude!? You Yellen!, Ahahahahaha that’s what I thought Yellen Pelly http://youtu.be/0c-UIkfsk1U?t=1m49s
And sing all together now … We All live in a Yellen Submarine!, Yellen Submarine! http://youtu.be/qE0B5rYdy8I?t=0s
"As a result of all this, Mr. da Costa - with no apparent reason given - was not 'invited' to today's FOMC Press Conference (but had a request of his fellow press corps)"
I don't see anywhere in his twitter comments where he said he wasn't invited. Where'd you get that idea or are you simply trying to make his absence more newsworthy by making assumptions?
When there is an organization that can arbitrarily set aside the Law...
...Then what is the real Law??
Imagine if she had to answer real questions?
Maybe we should make a list of the twenty or so best questions not to be asked.
A criminal leak, LOL. The whole thing has been criminal from the beginning.
this is the undersecretary of the treasury, or perhaps Lew is the undersecretary. what she wanted to say was "you should refer that question to the justice department" the fed is finished, this is fannie mae as an even larger toxic waste dump for bad assets. the fed is an SPR for debt (deferred assets, really). the next crisis will be solved by a secret (to you and me) aggreement between the banks and the treasury (and sure the fed is part of the treasury, the fed is the holding tank for sewage grade investment paper) thats why they put an old white haired woman in charge. the next crash the deal will be between treasury and the banks, like it was the last time, with bernanke holding the ken lewis head on the guillotine. now that the fed is pumped full they are largely irrelevant. what happens at the election will determine how big a grab executive wants to make on the banks territory, full out nationalization, partial. or the banks may fight back, but jamie dimon gets paid either way.
the double mint twins yellen and clinton
"Stay on the provided script, or be banned."
Liberty is a demand. Tyranny is submission.
His name is Pedro de Costa
Question # 1. Where are the deeds now? When did they get there? Show the document control records, mailing reciepts and complete history.
If ya all want answers? Maybe ya should start asking the questions!
The old bird made it pretty clear what her intentions were.
"In some situations, when we are able to identify individuals who were responsible for misdeeds, we can put in place prohibitions that bar them from participating in banking FOMC meetings so they don't ask too many questions."
Yellen is part of the strategy. How the fuck can ANYONE maintain a level of sanity listening to their grandmother yammer about FED policy. Fucking speech impediment or something - Jesus fucking spit it out already.
Don't know why she has to raise her voice, why is she Yellen?
In my opinion, this kind of questioning is not appropriate at a press conference on monetary policy - taking up time which should be dedicated to far more important matters. Such questioning takes the form of promoting the opinions of one member of congress, which is not the purpose of the conference.
Sure, he could have asked here those questions at one of the other half-dozen, on the record get togethers she holds with the free press in the free world each month.
I'd nominate de Costa for two at-a-boys for hurling asprins across the outside corner of Janet's plate.
Queen of the Khazars.
https://scontent-lga1-1.xx.fbcdn.net/hphotos-xat1/v/t1.0-9/11125266_9716...
.
So, that means they're getting rid of fiat currency, fractional reserve banking, and themselves?