This is the "partial" audit of the Fed that Ron Paul was able to extract from Congress. Even so the results are flabbergasting. TARP was "only" $800 billion:

The first ever GAO audit of the Federal Reserve Reveals $16 Trillion in secret bailouts

To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion.
The entire national debt of the United States government spanning its 200+ year history is "only" $14.5 trillion. The budget that is being debated so heavily in Congress and the Senate is "only" $3.5 trillion. Take all of the outrage and debate over the $1.5 trillion deficit into consideration, and swallow this Red pill: There was no debate about whether $16,000,000,000,000 would be given to failing banks and failing corporations around the world.
...
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. [Note: these are all major stakeholders in the privately owned 'FED' -CR]

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): http://www.scribd.com/doc/60553686/GAO-Fed-Investigation

Source: http://www.gao.gov/products/GAO-11-696
FULL PDF on GAO server: http://www.gao.gov/new.items/d11696.pdf

Gosh, how handy to own a central bank, such that you can have them write you a two and a half trillion dollar check when you're a little low on lunch money!

And some of you *still* think Occupy Wall Street is the problem.

Bankster. Lamp post. Some assembly required.

Labels: fascism on parade, financial ponderings