OK, take a look at short descriptive slide:
Congress "supposedly" has oversight of the FED. However, it does NOT exercise such. There has NEVER been an audit of the FED. Why not? The old adage of "follow the money" should offer a clue.
Curiously, Glenn Beck on his GBTV just offered a similar "expose' " on the Federal Reserve. It has some really great points to offer.
Click HERE to watch his presentation.
In case you are interested, here is a list of all the banks who received "bailouts" by the Government / FED as of June 2012: