The Most Profitable Bank In The WorldMarch 20, 2012 10:15 pm
We spotted this today:
“The Fed earned $77.4 billion last year, according to financial statements released to the public Tuesday. And yes, they were audited (by Deloitte and Touche).
While that’s a slight tick down from the Fed’s 2010 earnings, it’s still a massive figure.
To put it in perspective, consider this: Last year, the Fed earned more than America’s top five largest banks — JPMorgan Chase (JPM, Fortune 500), Bank of America (BAC, Fortune 500), Citigroup (C, Fortune 500), Wells Fargo (WFC, Fortune 500) and Goldman Sachs (GS, Fortune 500) — combined.”
Statistics Source: CNN Money