Exhibit 800

Senator Sanders, "The Fed Audit" (press release)

Exhibit 800 · Press release

Senator Sanders, "The Fed Audit" (press release)

the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world

Describes the GAO audit that the Sanders amendment to Dodd-Frank directed as uncovering "$16 trillion in secret loans." The $16 trillion is the sum of Table 8 of GAO-11-696 (loans not adjusted for term; see the GAO method note). The release is a senator's characterization of the GAO report, not GAO's own wording.

Source: Office of Senator Bernie Sanders
Date: 21 July 2011
Quoted from: Quoted statement of Senator Sanders, second paragraph
Grade: Primary record
Document: https://www.sanders.senate.gov/press-releases/the-fed-audit/
Accessed: 2026-11-09
Cited by: Findings citing this exhibit

Cited by

Finding POL-8.4: Primary record GAO's Table 8 totals $16,115 billion of loans across the Fed's broad-based emergency programs by adding every renewal of overnight loans without adjusting for term, and GAO found that loans outstanding peaked above $1 trillion in late 2008. Senator Sanders's release of 21 July 2011 described the audit as uncovering "$16 trillion in secret loans."