[classicman]

“Much of what the Fed, the Treasury and other agencies did in these transactions remains shrouded in secrecy,” said Representative Edolphus Towns, Democrat of New York and chairman of the oversight committee, said in his opening statement. “It’s time to yank the shroud off the Fed and shine some light on these events.”

Unhappy about the huge bank bailouts that the Fed arranged with the Treasury Department during the Bush administration, many Republicans are even more displeased that Mr. Bernanke is now working hand-in-glove with the Obama administration.

other e-mail between Fed officials shows that Bank of America executives were pressuring the Fed and the Treasury up to the last minute on Dec. 30, when the deal was scheduled to close, to provide written promises that the government would provide billions in new capital and other protection.

Wow - interesting stuff.