GAO Audit: Fed’s $16 Trillion in Aid

This is pretty wild:

Not only did the Fed make “more than $1 trillion in loans out to a wide range of financial institutions during the financial crisis,” but according to a new audit of the central bank by the Government Accountability Office (GAO), did a whole lot more.

Sen. Bernie Sanders (I-Vt.) said “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. This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.”

GAO Fed Investigation

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