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Fed Vice Chairman Donald Kohn said opening up some of the U.S. central bank’s most sensitive decisions to political scrutiny could result in higher long-term interest rates and hurt the United States’ credit rating. Kohn was speaking before a Congressional panel where he was seeking to beat back a proposal that would open policy decisions by the U.S. central bank to audits by a federal watchdog agency.

“Any substantial erosion of the Federal Reserve’s monetary independence likely would lead to higher long-term interest rates as investors begin to fear future inflation,” he said in testimony prepared for delivery to a House of Representatives Financial Services subcommittee.

Kohn’s testimony comes as Congress debates President Barack Obama’s plan for regulatory reform, which envisions the Fed taking on an expanded role monitoring risks across the entire financial system to help ward off future financial crises.

The proposal has increased calls for greater accountability at the central bank, which was already facing heavy scrutiny from lawmakers angered by its role in bailing out Wall Street.

Public anger over last year’s financial crisis and Fed-backed bailouts of investment bank Bear Stearns and insurer American International Group has created a popular backlash that could gain momentum in Congress.

A bill put forward by Representative Ron Paul, a Texas Republican, would expose the Fed’s decisions on monetary policy and emergency lending to audits by the Government Accountability Office. It has won support from a majority in the House of Representatives.

The GAO is currently prohibited from auditing these areas. Kohn said removing this exclusion would be highly detrimental and could lead investors to worry politics — not economics — would guide the Fed’s decisions.

“The Federal Reserve strongly believes that removing the statutory limits on GAO audits of monetary policy matters would be contrary to the public interest by tending to undermine the independence and efficacy of monetary policy,” he said.

He also said it could “cast a chill” on monetary policy deliberations by making officials nervous ideas they throw around behind closed doors could become public.

Paul’s bill has 250 co-sponsors, including 78 Democrats. But it has not been promoted by the Democratic majority leadership in the House, where it has yet to face even a committee-level vote.

If it were to emerge from the House, to become law it would also need to clear the Senate, where support may be more scarce.

Kohn warned that congressional meddling in the Fed’s affairs could exact a high cost.

Nearly 80 percent of homeless services providers and advocacy agencies say at least some clients became homeless as a result of a foreclosure, according to a joint report by four of the largest U.S. homeless advocacy groups.

Staying with family or friends and in emergency shelters were the most common post-foreclosure living conditions, followed by hotels or motels, according to the June report.

“In many areas shelters are now completely full, so the only option to keep their families together is to rent a motel room for $200 a week. That’s pretty standard for many who lost their homes to foreclosure,” said Michael Stoops, executive director of the National Coalition for the Homeless.

The report that Mr. Cheney was behind the decision to conceal the still-unidentified program from Congress deepened the mystery surrounding it, suggesting that the Bush administration had put a high priority on the program and its secrecy.

Mr. Panetta, who ended the program when he first learned of its existence from subordinates on June 23, briefed the two intelligence committees about it in separate closed sessions the next day.

Efforts to reach Mr. Cheney through relatives and associates were unsuccessful.

…

The disclosure about Mr. Cheney’s role in the unidentified C.I.A. program comes a day after an inspector general’s report underscored the central role of the former vice president’s office in restricting to a small circle of officials knowledge of the National Security Agency’s program of eavesdropping without warrants, a degree of secrecy that the report concluded had hurt the effectiveness of the counterterrorism surveillance effort.

An intelligence agency spokesman, Paul Gimigliano, declined on Saturday to comment on the report of Mr. Cheney’s role.

…

Members of Congress have differed on the significance of the program, whose details remained secret and which even some Democrats have said was properly classified. Most of those interviewed, however, have said that it was an important activity that should have been disclosed to the intelligence committees.

Intelligence and Congressional officials have said the unidentified program did not involve the C.I.A. interrogation program and did not involve domestic intelligence activities. They have said the program was started by the counterterrorism center at the C.I.A. shortly after the attacks of Sept. 11, 2001, but never became fully operational, involving planning and some training that took place off and on from 2001 until this year.

In the tense months after 9/11, when Bush administration officials believed new Qaeda attacks could occur at any moment, intelligence officials brainstormed about radical countermeasures. It was in that atmosphere that the unidentified program was devised and deliberately concealed from Congress, officials said.

Representative Peter Hoekstra of Michigan, the top Republican on the House intelligence committee, said last week that he believed Congress would have approved of the program only in the angry and panicky days after 9/11, on 9/12, he said, but not later, after fears and tempers had begun to cool.

One intelligence official, who would speak about the classified program only on condition of anonymity, said there was no resistance inside the C.I.A. to Mr. Panetta’s decision to end the program last month.

The FDIC is concerned that standing behind CIT debt would put taxpayer money at risk because the company’s credit quality is worsening, said people familiar with the regulator’s thinking who declined to be identified because the talks are private. The FDIC has backed $274 billion in bond sales under its Temporary Liquidity Guarantee Program since Nov. 25.

“Skadden is one of the principal law firms representing CIT,” Curt Ritter, a spokesman for New York-based CIT, said in an e-mail. “They represent the firm on a wide variety of corporate matters. CIT will not comment on any specific aspect of their engagement.”

The tyrannical fantasies of a madman? Or merely the opinions of the person now in control of science policy in the United States? Or both?

These ideas (among many other equally horrifying recommendations) were put forth by John Holdren, whom Barack Obama has recently appointed Director of the White House Office of Science and Technology Policy, Assistant to the President for Science and Technology, and Co-Chair of the President’s Council of Advisors on Science and Technology — informally known as the United States’ Science Czar. In a book Holdren co-authored in 1977, the man now firmly in control of science policy in this country wrote that:

* Women could be forced to abort their pregnancies, whether they wanted to or not;

* The population at large could be sterilized by infertility drugs intentionally put into the nation’s drinking water or in food;

* Single mothers and teen mothers should have their babies seized from them against their will and given away to other couples to raise;

* People who “contribute to social deterioration” (i.e. undesirables) “can be required by law to exercise reproductive responsibility” — in other words, be compelled to have abortions or be sterilized.

* A transnational “Planetary Regime” should assume control of the global economy and also dictate the most intimate details of Americans’ lives — using an armed international police force.

Impossible, you say? That must be an exaggeration or a hoax. No one in their right mind would say such things.

Well, I hate to break the news to you, but it is no hoax, no exaggeration. John Holdren really did say those things, and this report contains the proof. Below you will find photographs, scans, and transcriptions of pages in the book Ecoscience, co-authored in 1977 by John Holdren and his close colleagues Paul Ehrlich and Anne Ehrlich. The scans and photos are provided to supply conclusive evidence that the words attributed to Holdren are unaltered and accurately transcribed.

This report was originally inspired by this article in FrontPage magazine, which covers some of the same information given here. But that article, although it contained many shocking quotes from John Holdren, failed to make much of an impact on public opinion. Why not? Because, as I discovered when discussing the article with various friends, there was no proof that the quotes were accurate — so most folks (even those opposed to Obama’s policies) doubted their veracity, because the statements seemed too inflammatory to be true. In the modern era, it seems, journalists have lost all credibility, and so are presumed to be lying or exaggerating unless solid evidence is offered to back up the claims. Well, this report contains that evidence.

The patent calls for a large fleet of specially equipped ships which would mix warm water from the ocean surface with colder water down below, according to five new patents that include Microsoft’s chairman as a co-inventor. That could then reduce or perhaps eliminate the heat-driven condensation which hurricanes feed upon, thus significantly reducing their intensity.

Patent-watcher “theodp” first spotted the new patent filings, and told TechFlash that the scheme reminded him of something Mr. Burns might have concocted in “The Simpsons” — if the fictional industrialist hadn’t already blown his master plan on blocking out the sun.

The hurricane-stopper plan apparently hatched from a meeting of Intellectual Ventures, a patent house which regularly gathers scientists and technologists to brainstorm together. TechFlash notes that the official filings came through an Intellectual Ventures affiliate, Searete LLC.

Doctors tracking the pandemic say they see a pattern in hospital reports from Glasgow to Melbourne and from Santiago to New York. People infected with the bug who have a body mass index greater than 40, deemed morbidly obese, suffer respiratory complications that are harder to treat and can be fatal.

With the new virus on a collision course with the obesity epidemic, the World Health Organization says it’s gathering statistics to confirm and understand this development. Drugmaker Roche Holding AG is combing through studies to determine whether heavier people should get bigger doses of its Tamiflu antiviral.

“Morbid obesity is one of the most common findings turning up in severely ill patients,” said Nikki Shindo, who is leading the investigation of swine flu patients at the WHO in Geneva. “It’s a huge problem.”

“Here it is,” Medvedev told reporters today in L’Aquila, Italy, after a summit of the Group of Eight nations. “You can see it and touch it.”

The coin, which bears the words “unity in diversity,” was minted in Belgium and presented to the heads of G-8 delegations, Medvedev said.

The question of a supranational currency “concerns everyone now, even the mints,” Medvedev said. The test coin “means they’re getting ready. I think it’s a good sign that we understand how interdependent we are.”

Citadel, one of the world’s most successful hedge fund firms, sued a former top executive in its highly successful quantitative trading unit and two others for setting up their own firm — the same firm hired Sergey Aleynikov, the former Goldman Sachs computer programmer accused of stealing secret codes the bank uses to make lucrative, rapid-fire trades in the financial markets.

Chicago-based Citadel, founded by 40-year-old billionaire Kenneth C. Griffin, said in a lawsuit filed Thursday that Mikhail Malyshev, 40, and two other former employees had violated their non-compete clauses by starting their own firm, Teza Technologies.

“This is a case of industrial espionage,” Citadel said in a complaint filed Thursday in Illinois state court in Chicago.

Teza Technologies made headlines this week when it was identified as the firm that had hired Mr. Aleynikov, who was arrested by federal agents last Friday evening for allegedly stealing proprietary, “black box” computer programs that allowed Goldman to “engage in sophisticated high-speed and high-volume trades on various stock and commodities markets.” He has pleaded not guilty to charges of theft of trade secrets and transporting them abroad.

Mr. Malyshev, a Russian emigre with a doctorate in astrophysics from Princeton, left Citadel’s quantitative trading unit in February after the funds he helped run returned about 40 percent last year. Their performance stood out at a time when most hedge funds lost money and Citadel’s flagship portfolios tumbled 50 percent.