Thousands protest bailout bonuses at bank meeting

Agence France-Presse


Thousands of protesters chanted ‘the banks got bailed out we got sold out’ as they marched through the streets of Chicago on their way to a meeting of US bankers Tuesday. Carrying signs proclaiming ‘Hold Wall Street accountable’ and ‘Foreclosures ruin communities,’ they demanded an end to massive bonuses for the bankers who they say helped bring on the financial crisis and credit crunch which dragged the United States into the deepest recession since the Great Depression. Organized by a coalition of union and community organizations, the protesters called on the bankers to stop lobbying against financial reform and to invest the trillions they received in government bailouts to stem the tide of foreclosures and invest in businesses which will help kickstart the economy...

Fed up

by Brian Doherty

For the first time in [US Representative Ron] Paul’s long career of tilting at Alan Greenspan’s windmills, popular sentiment against the Federal Reserve has its chairman, currently Ben Bernanke, running scared. Last summer Bernanke launched an unprecedented public relations campaign, explaining himself in venues from 60 Minutes to town-hall-style meetings broadcast on PBS. In July testimony to the House Committee on Financial Services, Bernanke warned that H.R. 1207 would damage global trust in the Fed’s political independence and ‘could raise fears about future inflation, leading to higher long-term interest rates and reduced economic and financial stability.’ Paul, after shepherding his idea from fringe to mainstream, is almost giddy. ‘Now the Federal Reserve is less popular than the IRS!’ the congressman told a July gathering of Young Americans for Liberty in Washington, D.C. ‘This issue is never going to go away. Who would have thought a politician could talk about Austrian economics and get applause?’ (for publication 11/09)

Anything less than full disclosure is unacceptable

Campaign For Liberty
by US Rep. Ron Paul (R-TX)


Last week a new bill was introduced in the Senate to audit the Federal Reserve. Some backers of my bill HR1207 and the existing Senate companion bill S.604 were a little miffed at this, but depending on how you think about it, this new legislation poses no great threat to our efforts. With the economy in shambles, people are looking for answers — not just because of lost savings on Wall Street, but because of lost houses on Main Street. Because of the many problems we face, the Federal Reserve and its powers over the economy have come under scrutiny...

Informant: Thomas L. Knapp


Thousands March in 3-Day Showdown with Banking Industry


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