Transparency

In a move set to infuriate and send many Zero Hedge readers over the top, the NYSE has taken action to make sure that nobody will henceforth be able to keep track of the complete dominance that Goldman Sachs exerts over the New York Stock Exchange. This basically ends our weekly Program Trading updates disclosed every Thursday indicating that Goldman has singlehandedly captured all of NYSE's program trading.

We are happy to announce that the HR 1207 "Audit The Fed" Bill is now one large step closer to reality, having garnered the necessary 218 co-sponsors to ensure passage. It has, in fact, 222 co-sponsors as of today and more are appearing by the hour. Please click here for the official press release.

213 co-sponsors now support HR 1207, with 7 new names added today alone. Just 5 more needed. The Fed really needs to get its lobbyist to start pulling their weight and do some serious damage control i.e. organize a few Dominoes dinners, throw in some buffalo wings, a little Mumms, some Goldman elves, you know the drill. They can charge the Goldman expense account.

Readers curious to know how the Fed transparency petition is progressing will be happy to know that Ron Paul's HR 1207 proposed bill, "The Federal Reserve Transparency Act" now has 206 co-sponsors. Alan Grayson's democratic canvassing for bill support has proven quite successful. A mere 2 weeks ago there was just 165 cosponsors, mostly republicans.

As of yesterday, over 4,700 people had signed the petition by Alan Grayson to get Democrat co-sponsors of Ron Paul's HR1207 bill to audit the Federal Reserve. Even more importantly, 14 members of the House Of Representatives have joined Raul Grijalva, bringing the total cosponsors to 181.

Barbara Ehrenreich, blogger and author of This Land is Their Land, has added her name to the list of 3,270 people endorsing Ron Paul's and Alan Grayson's campaign to audit the Federal Reserve.

Also adding their names are:

As of 1 am last night, the petition in support of the Ron Paul /Alan Grayson / HR1207 initiative had over 2,500 signatories and climbing fast.

The link to endorse the petition is here.

I am happy to report that up to this point, over 1,400 signatories have endorsed the Fed Transparency petition.

Importantly, earlier Rep. Raul Grijalva (D-AZ) has signed on to cosponsor H.R. 1207. Rep. Grijalva brings the total of Democratic cosponsors to 30. There are 136 Republican House members already cosponsoring the bill, and 218 votes are needed in the House for passage.