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.