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Report: Firms of 18 Fed Directors Received $4 Trillion in Bailout Money

HeadlineJun 13, 2012

A new report shows 18 former and current directors of the Federal Reserve worked for financial companies that collectively received more than $4 trillion in the Fed-overseen Wall Street bailout. In a statement, independent Senator Bernie Sanders, whose office released the report, said: “At a time when small businesses could not get affordable loans to create jobs, the Fed was providing trillions in secret loans to some of the largest banks and corporations in America that were well represented on the boards of the Federal Reserve Banks. These conflicts must end.”

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