Illustrating that spilling across party lines is the unpopularity of the private central bank's bailout of banks for bad bets made in the derivatives markets and subprime markets, HR 459 Audit the Fed, an issue dear to disparate political constituencies ranging from Occupy Wall Street to moderate Republicans, passed the House this week. Reuters reported:
"the vote showed bipartisan support for greater scrutiny of the U.S. central bank's powers which were expanded to help it tackle the financial crisis."Representative Dennis Kucinich said:
"It's time that we stood up to the Federal Reserve that right now acts like some kind of high, exalted priesthood, unaccountable to democracy,".... http://ralphlopez.hubpages.com/...
No to private banksters running the country: Occupy Wall Street Storms Fed
A series of bailouts, bank rescues and other economic lifelines could end up costing the federal government as much as $23 trillion, the U.S. government’s watchdog over the effort says – a staggering amount that is nearly double the nation’s entire economic output for a year.