Whereas: Congress, the Federal Reserve, and the U.S. Treasury have put the American taxpayer on the hook for over $12 trillion in bailouts and loans; and
Whereas: Federal Reserve Chairman Ben Bernanke recently refused to tell Congress who has received trillions in these funds from the Federal Reserve; and
Whereas: Allowing the Fed to operate our nation's monetary system in almost complete secrecy leads to abuse, inflation, and a lower quality of life for every American
Audit the Congress: the AIG bailout was about $180 billion of which about half has already been paid back by the company selling off pieces of itself and the rest might be paid back within 5 years. AIG is cleaning itself up, all of the investment banks have repaid their bailout money, and so have most of the large banks. The estimated cost of the Fannie/Freddie "conservatorship" is $291 billion as of late 2009 and another $389 billion over the next 10 years, almost as much as the war in Iraq up to this point. Guess what, these "companies" are not being unwound, but are actually increasing the size of their mortgage books because cheap housing is still a policy goal.
Whereas: Congress, the Federal Reserve, and the U.S. Treasury have put the American taxpayer on the hook for over $12 trillion in bailouts and loans; and
Whereas: Federal Reserve Chairman Ben Bernanke recently refused to tell Congress who has received trillions in these funds from the Federal Reserve; and
Whereas: Allowing the Fed to operate our nation's monetary system in almost complete secrecy leads to abuse, inflation, and a lower quality of life for every American