Sanders Statement on Fed Disclosure

WASHINGTON, Dec. 1 - Sen. Bernie Sanders (I-Vt.) issued the following statement on today's disclosure by the Federal Reserve that banks and other institutions received an estimated $3.3 trillion in emergency loans and other assistance during the financial crisis:

"After years of stonewalling by the Fed, the American people are finally learning the incredible and jaw-dropping details of the Fed's multi-trillion-dollar bailout of Wall Street and corporate America. Perhaps most surprising is the huge sum that went to bail out foreign private banks and corporations. As a result of this disclosure, other members of Congress and I will be taking a very extensive look at all aspects of how the Federal Reserve functions."

Under a Sanders provision in the Wall Street reform bill, the central bank was required by to disclose which financial institutions, corporations, and foreign central banks took heretofore secret loans.