February 28, 2012
THANKS, W:
Fed turns $2.8 billion profit on AIG bonds (Annalyn Censky, February 28, 2012, CNNMoney)
Remember those pesky mortgage-backed securities the Federal Reserve had to take off AIG's hands at the worst of the financial crisis?The Fed just finished selling all of them, and their return on investment isn't too shabby. The sales of the $19.5 billion portfolio turned a $2.8 billion profit for taxpayers.
Avoiding a Depression and turning a buck? We need more MBA presidents and fewer lawyers..
Posted by Orrin Judd at February 28, 2012 9:34 PM
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