For the first time since the Crash of 2008, there is cause for hope that Wall Street's devouring of the U.S. state can be halted. Republican libertarian Rep. Ron Paul (TX), leading a bipartisan coalition comprising a solid majority of the U.S. House, last week won committee approval of a bill that would open the books of the Federal Reserve, the heretofore unaccountable engine of bankster thievery on a cosmic scale.
The Obama presidency has seen by far the greatest transfer of wealth in the history of the world – some $23.7 trillion as of July, in the form of grants, loans and guarantees to the financial sector. Only a small fraction of this mind-bending mass of money – a sum approaching in volume two years of total U.S. economic activity (GDP) – was legislatively authorized by the U.S. Congress. Aside from the congressionally mandated $700 billion in Troubled Asset Relief Program (TARP) monies, nearly all of the mega-trillions were put at Wall Street's disposal by Barack Obama's executive branch and the quasi-public monstrosity, the Federal Reserve.