Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts

[thefloopist]

http://www.unelected.org/audit-of-th...ecret-bailouts

The first ever GAO(Government Accountability Office) audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the house bill(HR1207), so that a complete audit would not be carried out. Ben Bernanke(pictured to the left), Alan Greenspan, and various other bankers vehemently opposed the audit and lied to Congress about the effects an audit would have on markets. Nevertheless, the results of the first audit in the Federal Reserve’s nearly 100 year history were posted on Senator Sander’s webpage earlier this morning.

What was revealed in the audit was startling: $16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world’s banks, corporations, and governments. The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest. Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious — the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs.

To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion. The entire national debt of the United States government spanning its 200+ year history is “only” $14.5 trillion. The budget that is being debated so heavily in Congress and the Senate is “only” $3.5 trillion. Take all of the outrage and debate over the $1.5 trillion deficit into consideration, and swallow this Red pill: There was no debate about whether $16,000,000,000,000 would be given to failing banks and failing corporations around the world.

A list of the recipients:

Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
and many many more including banks in Belgium of all places

U mad brahs?

There's more to the article in the link plus a link to the actual audit. Strange this doesn't make network news.... Not really.

[jessah13]

yeah I guess I'm kinda mad about that

[SomeRandomName]

Will wait to see an official source

[slowdubbin68]

benny B should be publicly hung

[thefloopist]

Will wait to see an official source

http://www.gao.gov/products/GAO-11-696



That official enough for ya?


The list of recipients is on page 131 of the PDF.

[SomeRandomName]

http://www.gao.gov/products/GAO-11-696



That official enough for ya?


The list of recipients is on page 131 of the PDF.

Clicked on pdf, went to page they said to, didn't see it. It's too late at night for me to give a ****. There are tons of ways to spin numbers, I'm sure someone will eventually bitch about this and get it into the media if it is indeed what people think.

inb4 I'm a naive sheeple

[wsuwarrior]

Fukking rage.

[thefloopist]

One more rage bump

[3000RT]

times are changing, couldnt do ths 40 years ago. Now "money" is just numbers on a computer

[Fatceptual]

nothing to see here boys.....just americans gettin butt fuked by pimp bernake and his goons as usual

[Mises]

I'm so raged that I don't even give a f*ck

[lastaftershock]

damn seriously.

[terzter]

I like how none of the pop media has reported this.


correction, found an article in wash post.

[johnsonbagaroni]

the revolution is coming boys....

[LeakyQuesadilla]

this is f*cked up.

[USMARINE8152]

We need to just hit the re-set button for the whole world...

[sennas]

is this real life?

[Burgerbuger]

Godbless our banks for running this country.

[Protege385]

I'm going to pretend I never came in this thread. There's so many other things going wrong, I can't focus on this right now :-(

[RoscoeBlunt]

inb4amywinehousegetsmorecoveragethanthis

[cheezile]

moving to china/10

[gomango259]

wow thats a lot of money. how did they give out that much money secretly?

[myrongaines90]

In b4 bat**** republican gets elected and re-appoints all wall street people to federal reserve

[deltsbrah]

aware me (an idiot) on what this means

[letrozole]

wow thats a lot of money. how did they give out that much money secretly?

dont think all of it is secret. the 16 tril was lent over 3 yr span.

i cant find any other new articles about secret 16 trillion

[samarrand]

[jeffoxxy123]

in.

[Wakiza33]

da fuk...

da fuk...

i say again...DA FUK!

[LAballin24]

fukin pissed I didn't get $2 trillion

[Dan916]

govt accountibility, that an oxymoron?