GAO Audit Shows 16 TRILLION to Foreign Banks

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There are a lot of blog articles about the GAO audit of the Federal Reserve documenting what Bernanke and the big boys in the back rooms have been up to.  I didn’t want to post anything here without some official documentation.  This is from Vermont Senator Sanders’ website.  WE ARE SO SCREWED! ~LTG

The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. “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,” said Sanders. “This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.”
Among the investigation’s key findings is that the Fed unilaterally provided trillions of dollars in financial assistance to foreign banks and corporations from South Korea to Scotland, according to the GAO report. “No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president,” Sanders said.  Full Story Here

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0 responses to “GAO Audit Shows 16 TRILLION to Foreign Banks

  1. ““No agency of the United States government should be allowed to bailout a foreign bank or corporation ”
    The FED is not an agency of the US…

  2. Dennis Kolb Sr.

    If this was 1775, “What would George Washington and the Boys Do?

  3. Yep LTG, we are so screwed…and not in a good way. The clowns in DC must be laughing. Time to get rid of all of the basta#ds messing with the future of our country, and those of our children. God help us!

  4. Damn, you mean we could paid the national debt but we chose to loan that money out to foreign entities, including lots of arab countries that hate us and had dancing in the street on 9/11 most likely, instead?!


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