Fed reports payment of $76.9 billion to federal government in 2011, second highest in history

[banned from Kos]

http://www.washingtonpost.com/business/fed-reports-payment-of-769-billion-to-federal-government-in-2011-second-highest-in-history/2012/01/10/gIQAg5oJoP_story.html

"WASHINGTON — The Federal Reserve paid the federal government $76.9 billion in 2011, the second highest amount in history. The central bank earned the money from investments made to bolster the U.S. economy.

The Fed says the 2011 payment is down from an all-time record of $79.3 billion made in 2010. A big part of the decline reflects lower earnings that the Fed made from its support for insurance giant American International Group."

[Trillo]

1. Kick

because I want to read this later.

[banned from Kos]

2. the Fed is also picking up the $242 million tab to start the new Consumer Bureau too

http://www.huffingtonpost.com/2012/01/10/federal-reserve-pays-us_n_1196868.html

Tucking the CFPB inside the Fed was a stroke of genius - it cannot be defunded by Congress now.

Cost to taxpayers - Zero.

[FrenchieCat]

4. Yes, a Genius strategic win for the supporters of the CFPB,

and the reason the Republicans are howling so loudly......

[freshwest]

3. Interesting, sounds very nice. Wonder if this will take the wind out of the sails of the Paulites.