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In fact, of $609,072 given to Watt, $217,109 – or 35.6 percent – came from the money sector, including over $187,000 – or nearly 31 percent of his total contributions – from political action committees within the finance , insurance and real estate industry. The next highest industry supporting Watt was labor, which contributed only 14 percent of his total war chest.

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Eventually there was bound to be a reaction from liberal-left politicians to the Ron Paul-led effort to audit the Federal Reserve. That reaction appears to be taking shape in the form of Senator Chris Dodd’s plan to create a super agency to oversee, especially now that the Dodd plan received front-page treatment from the New York Times on Sunday.

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PETITION URGING THE U.S. SENATE
TO AUDIT THE FEDERAL RESERVE SYSTEM

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Interview of June 17th, 2009 of Rep. Ron Paul on HR 1207 to Audit the secret workings of The Federal Reserve company, a cartel of 12 privately owned banks:

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Wilson commented that the bill, HR 1207—sponsored by Congressman Ron Paul (TX-14)—would “provide a full accounting of the Fed’s irresponsible activities of moving trillions of dollars to foreign governments and banks, crashing markets, and wrecking the economy.”

“The Federal Reserve has committed taxpayers to bailouts totaling $7.76 trillion in less than two years,” said Wilson. “No member of Congress, including House Republicans, knows where the entirety of this $7.76 trillion will go, because the Fed is mostly exempt from being audited and attempts at oversight have been met with consistent stonewalling.”

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