The Fed supposedly made a $52B profit on its purchases of Treasuries and is making a big show of returning $46B to the US Treasury. But is it cooking its books, just like its member banks? Does this P/L accounting consolidate the different off-balance sheet entities like the Maiden Lane LLCs? And how are they accounting for the illiquid toxic waste on their books?
And here's another item to be outraged about: "Federal Reserve banks paid the private banks that control them $1.4 billion in dividends in 2009, while shoring up their own capital by $4.6 billion." Wait, WHAT?? This almost makes you root for Ron Paul. http://money.cnn.com/2010/01/12/news/economy/fed_profits.fortune/ -raghu. -- I get mail........ therefore I am. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
