To: Smokin' Joe
The Fed returns all profits not needed for operations to the Gov at the end of each year. It is a substantial amount. If some of the bailouts don’t work the Fed won’t be returning that money, they’ll be using it to offset their losses.
This is a weird development.
7 posted on
12/10/2008 2:46:01 AM PST by
Jack Black
(ping can't be a tag line, can it?)
To: Jack Black
This may be a weird development, but I don't see where the Fed returning its profits matters much here. I don't have numbers offhand, but I'd imagine that the "Feds profits" are less than one per-cent of the Trillions of dollars in play here.
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