So, let’s see!
Made $24.4 bil from buying $1 Trillion in junk mortgages, that is probably worth 20% of face value;
Made $3.5 Bil in Treasury bonds, as the treasury took $3.5 bil out of the left pocket, and placed it in the Fed’s right pocket;
and made the balance from TARP, even though the balance of their investment is so far underwater, it will never recover.
Such good news!
Time for all the crooks in this administration to throw aa party. The islands of the South Pacific are nice this time of year. Maybe Moochelle could bring her 500 close friends.
They only bought guaranteed MBS. They're mostly trading above par.
Made $3.5 Bil in Treasury bonds, as the treasury took $3.5 bil out of the left pocket, and placed it in the Fed’s right pocket;
This article is poorly written. They made $3.5 billion more from Treasuries than last year. I can't remember what last years number was.
and made the balance from TARP
TARP was the Treasury, not the Fed.