Federal Reserve made $14 billion on turmoil loans: report

Federal Reserve made $14 billion on turmoil loans: report

www.reuters.com

The Federal Reserve has made $14 billion in profits on loans made in the last two years, The Financial Times reported on Monday, citing officials close to the matter.

The U.S. central bank also earned about $19 billion from interest and fees charged to institutions that tapped liquidity facilities during the global financial crisis, the report said.

If the Fed had invested the same amounted loaned out in three-month Treasury bills since August 2007, it would have earned $5 billion in interest.

(visit the link for the full news article)



[edit on 31/8/09 by kepler]

[edit on 31/8/09 by kepler]

Mod Edit: Fixed title

[edit on 31-8-2009 by Gemwolf]

we are under the same threat our Founding Fathers faced, for we have fallen under the regime of the central bankers, and their central bank–the Federal Reserve. We are forced to use their interest-bearing scrip, rather than our own interest-free currency, backed by the good faith–and gold–of the United States government.

www.reuters.com
(visit the link for the full news article)

Greed..plain and simple. Federal reserve is not much differnt than big corporate business..take what you can, ripp em off, take care of those you know, consume and grow. Its all about greed..not one pulse of blood or heartbeat in it or them.

reply to post by kepler

Seems like a good deal for the U.S. tax payer to me. The recipients of these funds could not get financial support anywhere else and many would have folded without the Feds intervention. It's only fair a Central bank secures an adequate return for the tax payer.
Bearing in mind how these companies got themselves into this mess and the havoc they have caused ordinary Americans, you could make a case for punitive levels of interest.

Sometimes I think the Elites are already operating in a cashless society...The cash is incentive for the slaves to their bidding. I think this is why they always seem so disconnected from the rest of us.

I've seen a couple of these.".Gov" made money on bank bailout stories this morning. None mention the 100Billion laundered through AIG into the banks to pay off the CDS AIG wrote but could not pay when they failed.