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If the FED can secretly Loan out 7.7 Trillion Dollars

As Jon Stewart points out and HT has alluded to, the FED secretly loaned out 7.7 TRILLION dollars around the time that they also publicly loaned out almost a Trillion in TARP money.

http://www.hulu.com/watch/306290/the-daily-show-with-jon-stewart-thu-dec-1-2011#s-
p1-so-i0

This is so much money that most of us cannot even wrap our minds around it.

Where did the money go?

Will it be paid back?

Is the American taxpayer on the hook for it?

If this sort of thing can happen in secret, doesn’t it make ALL of our FED analysis rather pointless?

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