Free Republic

A proposal on which U.S. Rep. Ron Paul, R-Texas, has been working for much of the last decade is getting close to reality: an audit-the-Federal Reserve requirement that has been approved in the U.S. House and is pending in the Senate as an amendment to a piece of financial reform legislation. "They're still negotiating," said a spokeswoman for the congressman's office. "We're very hopeful that it's going to be included, maybe ... by the end of next week." She told WND that Paul would be pleased to have it pass as it stands. The plan, now pending before the Senate...

While everyone, including Congress, the media, and the public, have focused on AIG's $100-million bonus payments to key employees, and most recently on AIG's stealth payments to counterparties like Chase and the French giant Société Générale -- the latter made worse by the fact that it was the Federal Reserve (FED) that wanted to keep these payments hidden from public view -- the problem with the AIG bailout is much deeper and more fundamental. Just about everyone has had something to say about this bailout -- mostly that it was an ugly but necessary step to stave off a domino...

Here’s the latest in the question of the New York Fed, Treasury Secretary Tim Geithner and the AIG bailout, as we’ve covered here at Big Government before (here and here). Last year, Iraq war vet Kevin Murray brought a lawsuit against the Treasury Department and Ben Bernanke (Murray vs. Geithner, et al) for its acquisition of AIG– a scheme that made the US taxpayer the world’s largest provider of Shariah-compliant insurance products. Lawyers David Yerushalmi and The Thomas More Law Center’s Robert Muise found, in the course of discovery, that that was just the tip of the iceberg. Yerushalmi and...