The Treasury said it expects “to produce a combined profit of approximately $24 billion.” That’s a lot better than the $100 billion loss expected just last year. But it’s a not exactly a reliable number considering the Treasury announced a $100 billion profit less than 24 hours earlier than arriving at the $24 billion line in the sand. Here’s their summary breakdown:
Clearly, we aren’t pressing the new alleged profit into a cement plaque. We’re also not able to calculate the cost of future moral hazard. However, if the economy continues to recover, at least we can expect a much better rate of return on our money.
If this still makes you feel like the US economy has lost all credibility as a “free market economy”, you’re in good company because This Fed Governor ADMITS the Federal Reserve is Anti-Capitalistic.
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