Federal Reserve Dumps $3.3 Trillion Bailout Data

from December 2007 (now official start of the recession that supposedly ended in June of 2009) to July 2010.

And who were the lucky winners of near-free money?

A lot of financial sites are busy crunching the numbers released by the Fed. I'll wait for them to finish the work, but here's one of the early results from Zero Hedge on the question of "cui bono?" in the Fed's purchase of MBS:

The answer to the question: European banks.

From the Fed's press release which re-writes history, the bailout was about helping Americans:

The Federal Reserve Board on Wednesday posted detailed information on its public website about more than 21,000 individual credit and other transactions conducted to stabilize markets during the recent financial crisis, restore the flow of credit to American families and businesses, and support economic recovery and job creation in the aftermath of the crisis.

Well, the Fed has failed so far; "the flow of credit" isn't flowing to families and businesses, unless it's to the families of big business execs and to the big businesses on Wall Street and Main Street.

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