This is a service post and a service thread. I'm only going to do this once. We have seen claims that the Federal Reserve has extended enormous sums of money -- $9 trillion, $47 trillion, $100 trillion -- in "bailouts" to financial institutions over the past three years. Consider the following snippet from this site: These are extraordinarily large numbers and are far out of line with the figures that I'd expect to see, by several orders of magnitude. So I dug into that GAO report. The GAO's numbers are found by aggregating all Federal Reserve loans to these companies, irrespective of maturity. This is important. I shall give an example, one used in the report itself. An overnight loan of $10 billion that was renewed daily at the same level for 30 business days would result in an aggregate amount borrowed of $300 billion although the institution, in effect, only borrowed $10 billion over 30 days. That's where the huge numbers come from. That's how a $10 billion loan becomes a "$300 billion bailout". We knew they were a sham; now we know why. It really is that simple.