The House Financial Services Committee is holding a hearing on the Fed Transparency bill. The legislation started as a pet project of Federal Reserve gadfly, Rep. Ron Paul, but since the Fed’s massive intrusion into the market and expansion of responsibilities has attracted so many cosponsors to force a hearing and likely a vote in Congress. If ever there was a doubt that Congress responded to public concerns, this should show that they clearly do. Watch here. (And especially watch for Rep. Alan Grayson’s dollar sign tie. I also suggest The New Republic profile of Grayson.)