This is an excellent line of inquiry. Congress should push the ball up the court.
Kid Twist Tiny Tim knew about this crap long ago. He was the manipulator behind the scenes in the debt bomb crisis as the president of the NY fed.
I WAS WATCHING FOX BUSINESS YESTERDAY AND AN ECONOMIST SAID THE SAME THING: GEITHNER AND BERNANKE KNEW ABOUT THE SCANDAL. HENCE, IT REALLY ISN’T A SCANDAL WHEN THE REGULATORS KNOW ABOUT IT AND MAY HAVE ENCOURAGED IT. THAT IS THE SCANDAL.
Look at the charts and tell me that The Fed and its droves of economist didn’t notice.
http://www.reuters.com/article/2012/07/11/us-sanbernardino-bankruptcy-eminent-idUSBRE86A1EM20120711