Fed to People: It’s Not Our Fault

By Bob L.


This Is Our Government On Power
This is just exactly what this administration thinks of America and the people, they don’t care how broke they keep the people, just as long as they can profit from it.

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Seeking Alpha

Peter Schiff   January 10, 2010

It seems that the primary qualification needed by any chairman of the Federal Reserve is the ability to never admit error, no matter how damning the evidence. During his tenure on the job, Alan Greenspan set the standard for implausible deniability. But in a speech last weekend in Atlanta, current chairman Ben Bernanke did the Maestro one better. In a tortured academic dissertation, Bernanke explicitly denied any Fed culpability for inflating the housing bubble and for the financial crisis that began when it burst. Despite his best efforts, no one seemed particularly convinced. By taking such an absurd stand, he has destroyed any credibility he may have had left.

Fed posts record profits for last year

If this is true we could be in for a big let down if this does back fires on the fed., but the taxpayer will never see a penny return.
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By Jeannine Aversa, AP Economics Writer ,
Tuesday January 12, 2010

WASHINGTON (AP) — The Federal Reserve generated record profits last year, reflecting money made off its extraordinary efforts to rescue the country from the worst economic and financial crisis since the 1930s.

The central bank announced Tuesday it logged a record windfall of $52.1 billion. Of that total, a record of $46.1 billion gets turned over to the Treasury Department.