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

Posted by D on July 21st, 2011

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.

*snip*

The list of institutions that received the most money from the Federal Reserve can be found on page 131 of the GAO Audit and are as follows..

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

View the 266-page GAO audit of the Federal Reserve(July 21st, 2011)
: Source

What is amazing about the so called “debt crisis” nobody have asked who will profit from the credit rating adjustment. I believe it will be the banks. I also believe that the same people that gave the housing melt down is engineering this credit down grade. Let me explain. The “banks” are not going to make the money they did in the housing market. For all purpose the housing market is dead. They are making any enough money playing the commodity and stock market (world wide slow down)or credit card transactions. So when we start dig are way out and want to barrow, the “bank” will make a good profit. You can thank Goldman Sacks and the “boys”. (Didn’t the “bank” just have a meeting with the Obama before the “Debt Crisis” And Nobody has gone to Jail Yet and it’s same old, same old in DC. It will be interesting to see how much “legal bribe money” Obama and the rest of the Elected Elites get from the “banks”