Fed earns a RECORD Profit of 46.1 Billion in 2009

WASHINGTON (JEANNINE AVERSA — AP) — The Federal Reserve says it made a record profit of $46.1 billion last year as the central bank made money off its extraordinary efforts to rescue the country from the worst economic and financial crisis since the 1930s.

It marks the biggest profit on records dating back to 1914 when the Fed was created. The previous record profit — of $34.6 billion — was registered in 2007. In 2008, the Fed reported a profit of $31.7 billion. The Fed’s 2009 profit marks a 47% increase over 2008.

The Fed says the increase was primarily due to increase earnings on securities it held last year.

The Fed said last year it would buy $300 billion of Treasurys and up to $1.25 billion of agency mortgage-backed securities, in addition to $175 billion of debt issued by the agencies.

The effort helped to keep mortgage and other long-term interest rates low as the government sought to help the economy recover from the worst financial crisis since the Great Depression.

Do any one remember, what was Exxon made last year?

I do - 45.22 Billion - and people were crying about windfall profit, it appears that The windfall gets turned over to the U.S. Treasury. so now what??

In case of Exxon it was told that - people were paying a lot of money for gasoline. And they were making these outrageously obscene, sinful, outrageous, Hurtful profits. At a time when the American people need help. They were suffering, suffering.

Today situation is not different, people are still suffering, unemployment is even higher than last year about 4% higher, it's in two digits, last i checked, What did Fed do? They made these obscene profits.

Something to think about...