Bernanke couched his deception in a well rehearsed statement. He makes sure that he looks right into the camera when he says that the Federal Reserve is audited by a private firm and that they have assured the Federal Reserve that everything is well managed.
Now let me see if I remember why Sarbanes-Oxley came into existence. It was because the auditing procedures were being abused. In other words, an audit means nothing if it is all a part of the scheme.
In addition to Congress auditing the Fed, the 'privately bribed' auditor used by the Fed should be audited!
This is not the same as the burdensome regulation called Sarbanes-Oxley - which is used heavy-handedly as an extortion tool - but rather it is simply an investigation of fraud!
That is right, it has one purpose and that is to expose the fraud committed by the Federal Reserve and to find the fraud committed by the 'private' auditor hired by the Federal Reserve.
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