Is the Fed Preparing to Ramp Up Its Market Intervention?

From the Financial Times (how come this isn't in the Wall Street Journal or the NY Times or the Washington Post?):

Fed Ramps Up Its Trading Force

Remember that technically/legally the Federal Reserve is an independent, private entity with several unnamed banks as the shareholders (please google this for proof ad nauseum, or better yet, read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin). The Fed has the ultimate access to inside information. In fact, it often originates the events that create this information.

I would like Ben Bernanke to address for all of us where it states in the Federal Reserve Act that the Fed's role is to build a large staff traders to trade along side Wall Street and the general public. What is the purpose of this operation? What funds are being used to provide capital for this massive trading operation? Is the Fed printing money to fund this? What will the Fed do with the profits? (remember, several of the Fed operations to buy toxic assets are ultimately guaranteed by the you, the Taxpayer).

Before you fall into the trap that Congressmen like Diane DeGette (D-Colorado) want you to believe - that the Fed already has adequate Congressional oversight - please watch this shocking and eye-opening video of Rep. Alan Grayson interrogating the woman who is the Inspector General of the Federal Reserve and is supposed to be responsible for oversight and audit of the Fed:

Who's Watching the Fed?

My best guess is that the Fed is creating the infrastructure that will allow it to attempt to hold off the coming tsunami of credit defaults that will hit our system in the near future. I would also surmise that the Fed is going to massively increase the money supply in order to engage in this attempted intervention.

But we'll never be able to know for sure because Barney Frank continues sit on Ron Paul's HR 1207 Bill to audit the Fed, which would easily pass the House and the Fed continues to spend millions lobbying the Senate to make sure the Senate does not pass similar legislation that Congress could then put in front of Obama to sign or veto - it would be awkward for him to have to veto such a Bill, given that Ron Paul's Bill has support of 75% of the country.