5 votes

3/20 • The Hill: Federal Reserve Reaps $77 Billion Profit in 2011 • More Than US's Top 5 Banks Combined

The Federal Reserve reaped a higher profit than all 5 of America's top banks, including Goldman Sachs, JP Morgan Chase, and Bank of Americacombined!

http://thehill.com/blogs/on-the-money/banking-financial-institutions/217037-fed-reaps-77-billion-profit-in-2011 

Sheesh, who says there isn't a thriving free market in America :)



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reedr3v's picture

So the Fed is in the enviable position of

free funding of the companies it invests in?

Your butt is owned...

now go to work and pay those taxes so they stay in power. It's kinda neat that if the populace decided in unison not to pay and taxes or bills it would destroy the Fed?

Another one

.

If I disappear from a discussion please forgive me. My 24-7 business requires me to split mid-sentence to serve them. I am not ducking out, I will be back later to catch up.

The "profit" is interest earned on the assets it controls

(from the above linked article)
"Overall assets held by the Fed at the end of the year totaled $2.919 trillion, which is a $491 billion increase from 2010. However, the Fed loaded up on Treasury bonds last year, buying $683 billion."

Anyone know the answer to this question: Who pays the interest due on Treasury bonds?

you, me...

and everyone else that pays income tax!

The God who gave us life, gave us liberty at the same time.
Thomas Jefferson

Where liberty is, there is my country.
Benjamin Franklin

Firearms are second only to the Constitution in importance; they are the peoples' liberty's teeth.
G. Washington

Yup

Yup