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The Treasury Department says taxpayers reaped a $25B profit on mortgage bonds purchased at the...

  • Monday, March 19, 2012, 9:38 AM ET
    The Treasury Department says taxpayers reaped a $25B profit on mortgage bonds purchased at the height of the financial crisis, the Treasury's biggest profit for any program tied to the 2008-09 crisis. The government last week sold the last of the bonds, winding down Treasury's ownership of debt backed by Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB).
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    Of course, it helps when your friends at the Federal Reserve are depressing interest rates by buying treasury bonds hand over fist and dropping hints about a QE3 that might involve purchasing MBS. Anyone could make a profit with that kind of market manipulation.
    19 Mar 2012, 09:50 AM Reply Like
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