The Federal Reserve has faced increased scrutiny as the details of its 2008/2009 banking interventions have been made public. Huge numbers have been thrown around in the media to describe the "bailouts" the banks received during the credit crisis. The numbers are not accurate and most of the stories lack a thorough understanding of how the Federal Reserve works and the role it plays in our economy.
Make no mistake; I'm not a Fed apologist. The Federal Reserve, led by Chairman Ben Bernanke, has done some things right and many things wrong over the last several years. Criticism is well placed, but accuracy in this discussion is needed.
The Wall Street Journal has done a good job clarifying the facts around these issues as can be seen in the video below. A link to the full article can be found here.