Forum Post: Heard About The 16 TRILLION BAILOUT the Central Private Bank handed to Corporations?

Bloomberg is reporting that the Federal Reserve had made a total of $7.77 trillion in financial commitments to the big banks by the end of March 2009…. "Add up guarantees and lending limits, and the Fed had committed $7.77 trillion as of March 2009 to rescuing the financial system, more than half the value of everything produced in the U.S. that year."

But a one-time limited GAO audit mandated by Ron Paul and Barney Frank's Wall Street Reform Act covered an even broader time period and revealed even more bailout loans. “As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world”.

LINK 1 - http://theeconomiccollapseblog.com/archives/have-you-heard-about-the-16-trillion-dollar-bailout-the-federal-reserve-handed-to-the-too-big-to-fail-banks

LINK 2 - http://mobile.bloomberg.com/news/2011-11-28/secret-fed-loans-undisclosed-to-congress-gave-banks-13-billion-in-income.html

LINK 3 - http://www.scribd.com/doc/60553686/GAO-Fed-Investigation#outer_page_144