Here's another article on it from the Christian Science Monitor detailing the loans:

  http://www.csmonitor.com/USA/2010/1201/Federal-Reserve-s-astounding-report-We-loaned-banks-trillions

Of course, if housing prices return to levels reflecting their actual rental value, a lot of this won't be paid back. Its anyone's guess, really, because the situation is so complex and intentionally obscured.

This whole mess is a colossal indictment of the Fed and its easy money policies. No wonder they resisted admitting it.