Creating A Trillion From Thin Air

by Daniel Amerman

The Federal Reserve reported a $45 billion profit for 2009, making it the most profitable financial institution in the nation. Many news outlets put a positive spin on this report, saying it was great news for the economy and the financial sector. Are they right about that? Or could the full story of what happened represent a direct threat to the value of your savings and your retirement investments? Let's take a short look at the story behind the headlines, and the personal implications for you and your family.