Naked Capitalism has the article Unresolved Allegations of Criminal Insider Trading Leaks from the Fed.

A segment on yesterday’s Boom/Bust program, starting a 22:30, discusses the still-open inspector general criminal investigation into leaks from the Fed. As Ed Harrison recounts, the Fed had set up limits on meetings with officials in 2011 because former Fed staffers were profiting from these relationships.

If the Fed is not answering Congress’s questions, I don’t know why the Congress can’t just initiate its own investigation. If the Fed failed to make a referral to the Department of Justice, why can’t the Department of Justice initiate its own investigation based on what is already publicly known.

The Naked Capitalism article pointed to the Pro Publica article Leak at Federal Reserve Revealed Confidential Bond-Buying Details.

Leaks from inside the Fed are considered a serious matter. In the past, they have prompted Congressional concern and triggered the involvement of federal law enforcement. In this instance, then Fed Chairman Ben Bernanke instructed the central bank’s general counsel to look into the matter.

Why is Congress being so reticent in investigating this matter? Do they already know who is the powerful person that they all need to protect? The SEC probably has the capability of finding out who were the big money makers from the leaked information. They certainly know who published the information. Was that a criminal act itself?