They paid a trillon dollars for morgage backed securities and they’ve made about 160 billon in interest payments. Seems they have a ways to go before they can claim a “profit”.
It is called taking advantage of bad accounting rules. They made money on the interest, but the value of the assets remains the same even though they could never be liquidated. Can’t wait to see how much they lose the year they have to expense the “loss on investments” line.
What do you think their cost of funds is exactly?