Tom Usher wrote or added | "Did any responsible official really think that what Goldman was constructing was really some sort of productivity-enhancing financial innovation – as opposed to a sophisticated form of scam? The Federal Reserve must cooperate fully with this investigation. Ordinarily, the Fed might be tempted to sit on useful information, but they can now feel themselves in Senator Bob Corker's crosshairs. Republican Senator Corker is willing to cooperate with Senator Dodd on financial sector reform, opening up the possibility of legislation that will pass the Senate, but he wants the Fed to lose its supervisory powers."
Frankly as always, the Federal Reserve System needs completely to go. It was instrumental in all of the deceptions. Otherwise, the list of questions given is an excellent beginning for cleaning the temple.