Well, we did it! We got an independent audit of the Federal Reserve ready for the President's signature. That's what the Senate's vote to approve the financial reform bill means; the audit authority is in there. Now we will find out which zombie banks on Wall Street got a new lease on life with Fed money, as the Fed's balance sheet grew by over one trillion dollars.
Funny enough, the world of big money isn't collapsing -- as the Fed threatened it would if an audit of the Fed ever came close to passing.
But if you happened to read Rupert Murdoch's Wall Street Journal on May 7, 2010, you would have heard a different story. "Plan for Congressional Audits of Fed Dies in Senate," was the headline. Exactly what Wall Street wanted you to think.
Whoops! It looks like the Wall Street Journal has gone the way of Rupert Murdoch's flagship holding, Fox News.
But we won. And so, to celebrate, we took that Wall Street Journal article from two months ago, did a little photoshopping, and put this together:
We did this. Together. At every moment, as the Fed and Wall Street sought to undermine this cause, it was the phone calls, letters, e-mails, blogging and sheer power of the people -- ordinary people who cared -- that beat them back. We have delivered a succinct message to Wall Street and the Fed: "We Can Beat You."
We will beat you. As often as we need to. And when the battle is over, as Lincoln said, there will be "a new birth of freedom, and government of the people, by the people, for the people, shall not perish from the earth."
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