Banking Ballyhoo: Time to Audit the Fed?

People are becoming increasingly "fed up" with the Fed and the abuses of the bailout. The following are some documented reasons why:

- According to a Los Angeles Times/Bloomberg poll, only 31% of Americans supported the bailout.

- How was the amount of $700 Billion amount determined? "It's not based on any particular data point," a Treasury spokeswoman told Forbes.com. "We just wanted to choose a really large number."

- Citigroup of NY, the largest bank in the world by revenue (2008), received $20 Billion + from US taxpayer bailout money. - It was recently documented that $500M of this Citigroup money is going overseas to Saudi billionaire Maan al-Sanea Saudi and his businesses.


- The US Federal Reserve is about as federal as Federal Express, i.e. not really federal at all. It was created the day before Christmas Eve with support by President Wilson who later wrote it was a grave mistake.

- The following videos outline the history of the Fed and have a rare five out of five rating by Google viewers: http://video.google.com/videosearch?q=%22monopoly+men%22 - Monopoly Men (47 minutes) http://video.google.com/videosearch?q=moneymasters - Money Masters (209 minutes)

- Since the world financial crisis began the Fed has refused to disclose where trillions in bailout funds have gone, despite a lawsuit filed by Bloomberg, under the Freedom of Information Act. Additionally, the government wants to give them more authority to "regulate" and shut down any company they believe is a threat to the economy.

- There is presently a move to audit the Fed with bill HR 1207
People are becoming increasingly "fed up" with the Fed and the abuses of the bailout. The following are some documented reasons why:
- According to a Los Angeles Times/Bloomberg poll, only 31% of Americans supported the bailout. - How was the amount of $700 Billion amount determined? "It's not based on any particular data point," a Treasury spokeswoman told Forbes.com. "We just wanted to choose a really large number." - Citigroup of NY, the largest bank in the world by revenue (2008), received $20 Billion + from US taxpayer bailout money. - It was recently documented that $500M of this Citigroup money is going overseas to Saudi billionaire Maan al-Sanea Saudi and his businesses. - The US Federal Reserve is about as federal as Federal Express, i.e. not really federal at all. It was created the day before Christmas Eve with support by President Wilson who later wrote it was a grave mistake. The following videos outline the history of the Fed and have a rare five out of five rating by Google viewers: http://video.google.com/videosearch?q=%22monopoly+men%22 - Monopoly Men (47 minutes) http://video.google.com/videosearch?q=moneymasters - Money Masters (209 minutes)
- Since the world financial crisis began the Fed has refused to disclose where trillions in bailout funds have gone, despite a lawsuit filed by Bloomberg, under the Freedom of Information Act. Additionally, the government wants to give them more authority to "regulate" and shut down any company they believe is a threat to the economy.

- There is presently a move to audit the Fed with bill HR 1207 (and now bill S 604). More than 55% of the House of Representatives already sponsor the bill. Though the bill was denied by the Senate on Monday, the movement to audit the Fed seems to be gaining grass roots support. Many people are contacting their political representatives to support this idea.

Do you agree with the manner in which the banking bailout has been handled? Do you believe US citizens should demand an audit of the Federal Reserve? . More than 55% of the House of Representatives already sponsor the bill. Though the bill was denied by the Senate on Monday, the movement to audit the Fed seems to be gaining grass roots support. Many people are contacting their political representatives to support this idea.

Do you agree with the manner in which the banking bailout has been handled? Do you believe US citizens should demand an audit of the Federal Reserve?