http://www.govtrack.us/congress/bill.xpd?bill=h110-2755 Ron Paul has been warning us for years (check out 'Its A Republic If You Can Keep It' or even the scattered minutes he was doled out at the GOP debates last year. Now FINALLY it is in all the papers 'too cheap interest rates by the fed over too long created malinvestment of too easy money, creating bubbles, first dot com now housing'. And the fed is totally nonelected and unconstitutionally delegated (as a separation of powers issue) to the executive branch. CONGRESS has the power of the purse in the Constitution, and can anyone pretend that separation from the executive was accidental? HR2755 would have a one year period of wind down with oversight then the Fed would disolve with the treasury taking back Fed assets, essentially. ABSOLUTELY contact your reps URGENTLY against the bailout - but to stop this going forward, this bill or something like it needs to be passed, clearly. What do you think of it? physics - running into a wall, you mean? Banks ran before the fed and their downturns were much shorter. Remember the Great Depression? Post-fed. cbrown12 - I had never focussed on the 'debts' as open accounts. Let me read that again. That is criminal. pfo we had the fed in the 1940s. And, more to the point, in the 1930s. Bernanke himself admits that the fed 'made mistakes' making the depression as bad as it was. They are keyensian econonomists, all of them, and we have finally reached the endpoint Austrian school economists have been warning would come, all along, by playing with interest rates and the money supply per keyensian economists. cbrown, HR2755 has a one year wind down point with an oversight committee and during that time would address future steps, but the bill itself has outlines.