Federal Reserve Posts $52 Billion Profit For 2009
By johnu1978 - Last updated: Wednesday, January 13, 2010 - Save & Share - Leave a Comment
The world’s most powerful private bank, the Federal Reserve has posted a record profit for 2009 of $52 billion. The Fed says the record is due to profits made on investments which supposedly rescued the US economy from collapse.
The Fed’s 2009 profit was $14.4 billion more than it had made in any year since it’s creation in 1913. The positive numbers show that the Fed has been successful in profiting from the current depression which it helped to create.
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Posted in Economics • Tags: Bernanke, Business, depression, Economics, foreclosure, recession • Top Of Page