U.S. Audit Faults Fed For $16 Trillion Secret Loans

By Jutta Wolf
IDN-InDepth NewsReport

BERLIN (IDN) – While the world held its breath in the long drawn political tug-of-war between the White House and Republican Party leaders until beginning of August 2011, Senator Bernie Sanders posted on his website startling findings of a top-to-bottom audit of the Federal Reserve (Fed): The central bank of the United States had dished out a whopping $16 trillion between December 2007 and June 2010 in interest free secret loans to “bail out” American and foreign banks and businesses.

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