Audit the Fed? Sure but is it enough?

Months ago Alan Grayson asked Bernanke which foreign banks got a $500 billion loan. Bernanke replied, "I don't know".
http://www.youtube.com/watch?v=n0NYBTkE1yQ
http://www.newsweek.com/id/161199

Did somebody really make an electronic run on the banks?

Of course audit the Fed.

But my problem is that auditing the Fed is not going to be enough. It takes too much pressure off of the President, Congress and the Senate for their own conflicts of interests, aka. special interests and lobbyists who work against American citizens. Auditing the Fed is not necessarily a red herring, it's only part of the problem.

Look, the American citizens gave Uncle Sam $1.34 trillion in income taxes in 2007. Corporate America gave Uncle Sam a lousy $300 billion plus BRIBES that year. They got preference because the bribes went straight to the legislators.

If Americans wanted to change things for the better, we have to address the context of bribery and a conflict of interest and limit that with our politicians. We are entitled to our representation, everyone on Capitol Hill should be sued for going against their contracts.

Why haven't Fuld and Mozillo been placed on trail YET? We need Congress to testify, we also need Dubya, Paulson and Bernanke to testify.

The employment/population growth dropped a staggering 60% in the last decade, which is why so many people foreclosed on their homes to begin with. (see table at the bottom of "Jobless Recovery" on Wikipedia) Guess what? A lack of jobs creates foreclosures. Gen Y is most adversely affected by these statistics and without jobs (less inflation) Gen Y doesn't have the capacity to lessen the fiscal burden to bail out criminals and foreign banks.

There are so many things that we need to nail our legislators for. Save America, Bomb K Street i say! (K Street in Washington D.C. is a major hub for lobbyists).

Barney Frank pushes TARP on Steroids

Resolution Authority for Large, Interconnected Financial Companies Act of 2009, see section XII

Or the piece of shit legislation that's too long for an acronym. THis is giving banks even more cushion to fall on everytime they mess up. Volcker calls it "TARP on STeroids".

http://www.house.gov/apps/list/hearing/financialsvcs_dem/miron_testimony.pdf ...
http://www.house.gov/apps/list/press/financialsvcs_dem/presstitleone_102709.shtml
http://www.huffingtonpost.com/2009/09/24/volcker-too-big-to-fail-s_n_298429.html

So none of the Wall Street Tycoons have been sent to the Slammer. They're not on house arrest, not in jail... they're probably floating their funds offshore and doing everything before the uprising.

But while our government is taking out taxpayer dollars to save their hides, they're enacting legislation that will permanently make taxpayers liable to the screw up bank CEO criminal tycoons as they ruin our financial system.

Barney Frank and Chris Dodd needs a lobotomy. The idiots in Congress needs to go on trial. I wish I had the resources to start a "People vs. the Government" suit.

So the FBI is "investigating"? This problem was created by our government. Phil Gramm (Deregulation- other faulty legislation that enabled the crimes to occur), Christopher Cox (Securities Exchange Commission-see items ie. Rule 10b-21 which is a corrupt way to use legislative authorities backed by the US Government), Robert Pickel (International Swaps and Derivatives Association), Gary Gensler (Commodities Futures Trading Commission), Henry Paulson and Ben Bernanke are all Government officials that need to be in prison for causing the Greatest Financial Scandal in the History of the World. Congress is an accomplice.

Government was the enabler. And of course Barney Frank is "staying the course". Massachussets, please vote him out.



Andrew Jackson's Bank Veto discusses his concerns about concentration of power and the abuses within.