GAO Audit: Federal Reserve Gave $16 Trillion in Bailouts, Including to Foriegn Banks and Corporations

$16 Trillion

Amount given unilaterally by the Federal Reserve to banks and corporations around the world in bailouts after the financial meltdown at the end of the Bush administration, according toan audit by the Government Accounting Office ordered by Sen. Bernie Sanders, I-Vt. “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.

Bagman Boehner Launders Bucks from Bailed Out Corporations into Donations to Tea Party Candidates Running Against Bailouts

Bagman Boehner
Bagman Boehner
You have to wonder what the tea party rank and file would think about the fact that their own anti-bailout, anti-government candidates are taking donations that are, arguably, derived from the same taxpayer bailouts they despise.

It’s also a shame that swing voters who are ready to put the Republicans back in charge are not aware that those Republicans have not changed one iota in the four years since they were fired by the American electorate. They are still completely in the tank for the mega-corps that want to turn the clock back to the free-wheeling days of the Bush era — to the same unregulated system that led to the economic collapse and the Bush recession.

Here’s how the laundering of the bailout donations works. First, Speaker Wanna-Be John Boehner and the GOP take donations from bailed out corporations:


IN Sen: Coats Rails against ‘Disastrous Bank Bailout’ – Takes Donation from Bailed-out Bank

Washington Post:

The bailouts have become campaign fodder for Republicans to use against their Democratic rivals. In a television commercial, former Republican senator Dan Coats pillories his opponent in the Indiana Senate race, Rep. Brad Ellsworth (D), for supporting “the Obama-Reid-Pelosi agenda,” including “the disastrous bank bailout.”

Coats has received more than $30,000 for his Senate campaign from companies, including J.P. Morgan Chase and GM, that took government money. No companies on the bailout list have donated to Ellsworth. Neither campaign responded to a request for comment.

The latest poll from Rasmussen, a polling company notoriously in the tank for the Republican Party, shows Coats with a solid lead over Ellsworth, 52 percent to 34 percent.