And they call this ‘easing’…

Stone & McCarthy (Princeton)–According to our estimates the Fed will earn nearly $90 bln in calendar year 2012. Of this amount about $87.5 bln will be repatriated to the Treasury, which represents a new record high. Probably about $1.6 bln will be used to pay dividends to member banks, and another $1 or so is likely to have been paid in surplus.