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Herman Cain: Federal Reserve Audit Unnecessary

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Uploaded on Oct 10, 2011

In July 2011, a partial audit of the Federal Reserve as authorized by Congress revealed an unprecedented $16.1 trillion in unreported loans to U.S. financial institutions and foreign financial institutions.

On December 29, 2010, Herman Cain flatly denied the need for a Federal Reserve audit.

Herman Cain served as the Deputy Chairman (1992-1994) and Chairman (1995-1996) of the Board of Directors of the Federal Reserve Bank of Kansas City.

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