Federal Reserve continues shadow bailout of banking industry -- $947 billion of overpaid and low demand mortgage backed securities sit on the massive $2.8 trillion Fed balance sheet

``bailout of the banking system by purchasing more and more questionable mortgage backed securities. You would think that $1 trillion would catch the attention of the media but they seemed focus on other trivial items. The Fed balance sheet is still at record levels above $2.8 trillion to be exact, but the more troubling aspect of all of this is the amount of mortgage backed securities they have purchased. ''