Submitted by Tyler Durden on 01/10/2012 12:35 -0500
Federal Reserve
Federal Reserve Bank
Open Market Operations
TALF
When one has $2.9 trillion in costless AUM (because if the cost is breached, one just doubles down, especially if one prints the money), it is not all that surprising to generate $77 billion in profits in one year (think of the hubris emanating from that particular year end letter), or even $385 billion in profits in the past 10 years. Yet it is still a stunning number considering the rest of the $2 trillion hedge fund industry lost about 10% in 2011. Which is why we all bow down to what is without doubt the world's most lucrative and profitable generator of P&L in history: the Federal Reserve, which for the second year in a row has printed (pun intended) over $70 billion in profits. And who is the lucky LP? Why the US Treasury of course, which
http://www.zerohedge.com/news/presenting-worlds-most-profitable-hedge-fund-ever-frbny-lp?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
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GeneMarchbanks
GeneMarchbanks's picture
Judging by the latest out of NH you need not worry. Four more years of hope and asking for some change it is.
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Tue, 01/10/2012 - 13:02 | 2050815 SheepDog-One
SheepDog-One's picture
Did anyone ACTUALLY think that Central Bankster perfect puppet ObaMao was in ANY danger of being overthrown? Maybe the same people who think 'QE to infinity' and ZIRP4EVA' might have believed it.
ObaMao just announced he no longer has any use or need for congress or the courts...and the crowd went wild!
LOL people can keep believing in 'muddle thru' and that theyll be assured Goldilocks prices for all the food and gas they want 4EVA, not too inflated....not too deflated....dream on.
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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