Fed earns $45 billion in 2009

SgtMarine

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Wall Street firms aren't the only banks that had a banner year. The Federal Reserve made record profits in 2009, as its unconventional efforts to prop up the economy created a windfall for the government.

The Fed will return about $45 billion to the U.S. Treasury for 2009, according to calculations by The Washington Post based on public documents. That reflects the highest earnings in the 96-year history of the central bank. The Fed, unlike most government agencies, funds itself from its own operations and returns its profits to the Treasury.

Remember last year when there were clips about Hillary, Obama, McCain etc... talking about huge windfall profits on oil, where are they now? Just more hypocrisy in our wonderful political world.
 

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