Catherine Austin Fitts (born 24 December 1950) is an American investment banker and former public official who served as managing director of Dillon, Read & Co. and as United States Assistant Secretary of Housing and Urban Development for Housing during the Presidency of George H.W. Bush. She has widely written and commented on the subject of public spending and has alleged several large scale instances of government fraud….
Fitts has researched and commented on government spending. In a 2004 study published in World Affairs: The Journal of International Issues, she purported to find “evidence that a very large proportion of the nation’s wealth is being illegally diverted since several decades into secret, unaccountable channels and programmes with unspecified purposes, including covert operations and subversions abroad and clandestine military R&D at home. Public institutions have been infiltrated and taken over by shadowy groups in the service of powerful private and vested interests, often at the expense of the common good.”