Sen. Warren, Rep. Cummings Press Federal Reserve For Details of Leak Investigation

Makes me wonder if the Fed bond buying isn’t related to the Rehypothecation and loss of homeowner collateral which has led to the unprecedented amount of fraudulent foreclosures.

Justice League

Two congressional Democrats have asked the Federal Reserve Board for a briefing about its investigation into a leak of confidential Fed policy deliberations two years ago.

Sen. Elizabeth Warren, D-Massachusetts, and Rep. Elijah Cummings, D-Maryland, sent the request today to Scott G. Alvarez, the board’s general counsel, saying that neither Alvarez “nor any other Federal Reserve official has made public any information about the conduct of the investigation or its outcome.”

“We are disturbed by this lack of transparency regarding such an important topic,” the two wrote. “This leak contained key market-moving information, violated Federal Reserve policy on disclosure, and may have represented a violation of federal law.”

ProPublica reported in December that details from discussions of the Federal Open Market Committee found their way into a financial analyst’s private newsletter. The leak occurred in October 2012, the day before the scheduled public release of committee meeting minutes that promised…

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