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Technology Stocks : Dell Technologies Inc.
DELL 122.46-8.5%Nov 17 3:59 PM EST
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To: Ken Beal who wrote (68846)10/3/1998 7:56:00 AM
From: nihil  Read Replies (1) of 176387
 
RE: Fed employees salaries

Its weird, and hypertechnical, I know, but the employees of the Federal Reserve Bank of New York (who dood the deed)are not federal employees and are not paid with tax money. The member banks own all of the stock in the NYFRB and all expenses are paid from the Bank's revenues, which come from returns on their investments and fees. The federal government sweeps any excess profits (above an allowed return on stock, 6% last time I checked. They live well, but not (technically) at taxpayer expense.
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