Suitably Flip: NY Fed Doing Kim Jong Il's Laundry

re: "The Wall Street Journal's Real Time Economics blog points out this Bloomberg opinion piece by Kevin Hassett examining a curious and apparently unprecedented transaction that took place last week. /Last week the New York Federal Reserve made what may go down as the most misguided move in the history of the Federal Reserve system. They laundered money for North Korea. /A painful flurry of hearings may soon be on the horizon. Last week a group of influential Republicans, including the ranking member of the House Committee on Foreign Affairs, Ileana Ros-Lehtinen, asked the Government Accountability Office to investigate whether anti-laundering and counterfeit laws were broken. They may well have been..."...