Just go read Matt Taibbi’s new article “The Real Housewives of Wall Street“. Do it now. If you don’t read it, then you should lose your right to complain about any government spending.
The article details how the Fed has given out more than a trillion dollars in welfare to the rich. Free money, but only if you are stinking rich and have friends in high places. They even gave money to the wives of rich people, who then sheltered this money in the Cayman Islands.
And you don’t even have to be an American. They threw $5 billion at foreign automakers, at a time when we were trying to save US automakers, $9.6 billion to the Central Bank of Mexico, and $35 billion to the Arab Banking Corporation of Bahrain, whose majority shareholder is the Central Bank of Libya. That’s right, your tax money went to Muammar Gaddafi, the murdering tyrant of Libya.
Why didn’t you know about this? Because until now, the Fed has operated with almost complete secrecy and no oversight, even though it controls a budget almost as big as the rest of the government combined. But a new law has forced the Fed to open their books for the first time, and what we are finding is stunning. Says one senator’s aide “Our jaws are literally dropping as we’re reading this.” Yours will too.
If the Tea Party ever wanted something real to scream about, this is it.