Bloomberg News has researched a bombshell story, the Federal Reserve gave $1.2 trillion in secret loans to banks during the financial crisis, from August 2007 until April 2010. This is in addition to the TARP bail outs which was publicly known.Read also the author's first remark in the comments section.
The secret Fed-generated-taxpayer loans to banks continue to be revealed. That's okay, we can just cut back more on public services and let the government default on its debts to Social Security and Medicare Trust Funds to pick up the tab. (sarcasm)
As usual, very little coverage of this in mainstream press. After all, it is far more important to learn about the lives of celebrities and the horse races in the two ruling class political parties!