Did the US Federal Reserve give out 16 TRILLION dollars in loans to banks between 2007 and 2010?!

[Dan Druff]

http://www.sanders.senate.gov/imo/me...estigation.pdf

Go to page 131.

Citigroup got 2.5 trillion dollars in loans, and a total of 16 trillion dollars in loans were given to banks between December, 2007 and June, 2010.

This was the result of an audit of the federal reserve performed last year.

For some reason, it's a hot topic on the internet now, even though the news is 14 months old.

How come a bigger deal isn't being made of this? 16 trillion is a staggering number.

[WillieMcFML]

http://www.sanders.senate.gov/imo/me...estigation.pdf

Go to page 131.

Citigroup got 2.5 trillion dollars in loans, and a total of 16 trillion dollars in loans were given to banks between December, 2007 and June, 2010.

This was the result of an audit of the federal reserve performed last year.

For some reason, it's a hot topic on the internet now, even though the news is 14 months old.

How come a bigger deal isn't being made of this? 16 trillion is a staggering number.

"wake up white people" -daniel carver

[herbertstemple]

Didn't read article, but the govt cannot let the banks fail on a major scale. Probably unbelievable waste with all that money flying around, but its better than the alternative.