Fed Gets More Power

The Washington Times is reporting that the Federal Reserve, already arguably the most powerful agency in the U.S. government,

[Stop right there - It should read -- "The Federal Reserve, an international banking cartel charted by the US Federal Government through the1913 Federal Reserve Act and arguably the most powerful entity in the U.S., will get sweeping new authority to regulate any company whose failure could endanger the U.S. economy and markets under the Obama administration's regulatory overhaul plan.]

...will get sweeping new authority to regulate any company whose failure could endanger the U.S. economy and markets under the Obama administration's regulatory overhaul plan.

The FED is as much a part of the Federal Government as Fed Ex. Okay?!

But back to the plan... The final plan due to be released on Wednesday -- which originally aimed to streamline and consolidate banking and securities regulation in one or two agencies -- now is expected to sidestep most jurisdictional disputes and simply impose across the board standards to be applied by all financial regulators, according to administration and industry sources. Awesome. Soak it in.

Imagine if Halliburton had been handed THIS much power over the Defense budget under Bush? They would have impeached Bush in a heartbeat. Now, the Democrats wouldn't have been able to - but I stand by the analogy.

Audit the Fed, then END THE FED.