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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?)
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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.
9 posted on 12/10/2008 3:22:06 AM PST by ThePythonicCow ( Mooo !!)
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