Sanders: Fed loaned trillions to financial institutions

by Press Release on December 1, 2010

Fed Disclosure Lifts Veil of Secrecy, Sanders Says

WASHINGTON, Dec. 1 – Calling the revelations “jaw dropping,” Sen. Bernie Sanders (I-Vt.)

“We now know that Fed loaned trillions of dollars at zero or near-zero interest rates not only to the largest financial institutions in this country, but also to many of our largest corporations – including GE, McDonalds and Verizon. Most surprising, the Fed also lent huge sums of money to foreign private banks and corporations” he added.

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