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Bernanke: Fed Reserve Will Make Profit on Bailout

Posted on Dec 07, 2009 in Economic News, Federal Reserve & Bankers

NEW YORK (CNNMoney.com) — Federal Reserve chairman Ben Bernanke said Monday he’s confident the Federal Reserve will make money on the trillions it has pumped into the economy since the start of 2008.

[Hayden’s Note: Hmmmm, the Federal Reserve will make a profit.  Why is a ‘for-profit’ entity in control of our country’s monetary policies?!  Oh, wait… that’s because the Federal Reserve is one of the world’s largest, if not THE largest, Central Bank and has private shareholders, such as JP Morgan, Chase Manhattan, Bank of America, CitiBank, etc ad naseum.  Have I mentioned I hate the Federal Reserve lately?]

“I think we’re in very good shape,” Bernanke said, answering questions following a speech at the Economic Club of Washington. “I do believe we’re going to get back all the money, and indeed we’ll be showing for the taxpayers fairly significant extra income.”

Bernanke was referring specifically to Fed programs — not the Troubled Asset Relief Program (TARP). The U.S. Treasury will likely lose money on TARP, though the Obama administration is expected to announce soon that losses will be $200 billion less than initially expected....

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