From the Wall Street Journal:
The Federal Reserve‘s net income surged 53% to $81.74 billion last year from 2009 mainly due to higher earnings from securities the central bank bought to counter the financial crisis, according to final audited results released Tuesday.
Almost all of that income — $79.27 billion — will be sent back to the U.S. Treasury. The record transfer marks a 68% increase from the $47.43 billion the Fed sent back to Treasury in 2009. The figures were slightly higher than preliminary results published in January.
To fight the financial crisis, the Fed bought securities whose value had collapsed due to fear and uncertainty in markets and set up emergency lending programs for banks and firms, thus boosting its balance sheet. The central bank came under attack for taking too many risk with taxpayers money and putting itself in a position to suffer losses.
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
The Feds used tax payer money to buy maiden lane I,II,III (securities) but in the ken of the average laymen that would be IE: American Families homes. The tax payers of America funded the 1.2+ trillion dollars that purchased our homes then homes get forclosed on. In essence we forclosed on ourselves. The mortgages the Fed purported to have purchased had already been sold to investors long before Leman and countywide went under what they actualy did was purchase the right to be the trustee of mortgage backed securities. As every one knows when a mortgage in a securitised trust gets foreclosed on the investor get nothing and the trustee and servicer get the house the CDS the mortgage insurance thats why they bailed out AIG with American tax dollars becouse indirectly the Fed was the benificiary and then they get all proceds from the forclosure sale thats is why banks want to be trustees its not out of kindness remenber these loans were designed to bubble and pop. How do you think the feds balance sheete surged 53% in the middle of global economic meltdown. They sure didnt make it off of toxic loans that they paid 100% on the dollar for.they made it by forclosing on the very people that gave them the tax money to buy the mortages full circle tilt.