After financial collapse in 2008 - $26T in bailouts not including TARP or FDIC financing of US institutions ($100k for every person), all done by Fed Reserve w/out any act in Congress authorizing it.
Trillions extended by the Federal Reserve in the form of corporate welfare - they took US dollar, they control the currency and have control over money supply and for first time in history they played favorites and lent out money at 0.01% interest to these special banks.
Bloomberg reported that there are Trillions in off-balance sheets transactions that FR has entered into since Sept (’08?)
Inspector General for Board of Federal Reserve Governors representative testified in hearing that they have direct oversight over board programs and operations and also look at board-delegated functions at reserve banks as well as the board’s oversight and supervision at the reserve banks. But they do not have jurisdiction to directly audit reserve bank activities. In other words, if the NY Fed Member or other member reserve banks made $23T in free transactions—gave it away, she had no jurisdiction to understand, look at or know about it.