Representative Alan Grayson (D-Fla) is proving that Ron Paul isn’t the only one with a pulse up on Capitol Hill. Grayson is going after the “Citigroup Three” – Ben Bernanke, Tim Geithner and Vikram Pandit – in an attempt to bust up the Wall Street crony alliance.

Grayson is doing what any Congress member worth his or her salt should have done a long time ago. He’s calling for an inquiry into the $300 billion government guarantee extended to Pandit’s Citigroup. Put simply, he’s asking who should be held responsible for putting the taxpayer – you and me, dear reader – on the hook for a third of a trillion dollars of toxic Citigroup assets.

Here’s a quick breakdown of what Grayson is putting to the special inspector general of the TARP program Neil Barofsky courtesy of Tyler Durden at ZeroHedge.com.

1. How was the deal negotiated by Citigroup, the Federal Reserve, and the Treasury? How does this loss-sharing arrangement benefit taxpayers?

2. What are current mark-to-market losses to the Federal Reserve in this loss-sharing arrangement?

3. What is the current cash flow from these assets? Are these assets performing?

4. Who should be held accountable for the reckless acquisition of a third of a trillion dollars in assets that ended up requiring a government guarantee?

5. Which vendors are pricing these assets, and are there conflicts of interest present in these vending arrangements?

6. Is the Federal Reserve guaranteeing assets generated from lender-induced mortgage fraud and predatory lending practices?