Will Congress Buy More Bullshit From CRS on LIBORGATE?
July 15, 2012 • 8:28AM

According to Politico, on July 17, members of the House Financial Services Committee will be given a "tutorial" on the Libor scandal one day before Fed Chairman Ben Bernanke is scheduled to testify before the committee, as part of a long-scheduled appearance. Rep. Maxine Waters has been circulating a letter demanding separate hearings focused exclusively on the Libor scandal, but Committee Chairman Spencer Bachus and ranking Democrat Barney Frank are apparently opposed to holding a special hearing. The background briefing to committee members is to be given by the Congressional Research Service, the same outfit that totally lied in recent reports on the Homeowners and Bank Protection Act (HBPA) and Glass-Steagall, denying that these emergency measures would have helped solve the banking and foreclosure crises.