Fed Makes Profit Under Obama

[Procrustes Stretched]

Obama's stimulous packages not looking so bad after all.

Federal Reserve today announced it made a record $46.1-billion profit last year, countering concerns that the central bank has put too much taxpayer money at risk in attempts to stabilize the financial industry.

The Fed said it had paid the profit to the U.S. Treasury, marking an increase of $14.4 billion more than what it paid following 2008. The increase was largely due to higher earnings on securities in 2009...