Old Professor Beck sure got a lot of things wrong while filling far-right conservatives heads full of gloom, doom, hate and just plain mush, during 2010. Media Matters has put out its list of 15 whoppers for which Beck should have been fired, but miraculously if you work for FOX PAC you can say whatever you like and nobody seems to care.

Here’s #15 of the list: “During a January interview with Sarah Palin, Beck discussed the Federal Reserve’s 2009 profits, and claimed, ‘Exxon had their record profit a couple of years ago. It was $45 billion. The Fed just had record profit, over $50 billion. No one’s having hearings on the Fed. Nobody is looking for a windfall profit tax on the Fed. We can’t even open the Fed’s books.’ [Fox News, Glenn Beck,1/13/10, via Nexis] Of course we refer to Fox News as it rightfully should be called, FOX PAC.

Now, unfortunately for Beck and his listeners/viewers, he doesn’t know what he’s talking about. Media Matters stated, “The Washington Post reported that the Federal Reserve ‘will return about $45 billion to the U.S. Treasury for 2009 … the highest earnings in the 96-year history of the central bank. The Fed, unlike most government agencies, funds itself from its own operations and returns its profits to the Treasury.’ The Post added that these profits ‘are good news for the federal budget and a sign that the Fed has been successful, at least so far, in protecting taxpayers as it intervenes in the economy — though there remains a risk of significant losses in the future if the Fed sells some of its investments or loses money on its stakes in bailed-out firms.'” [The Washington Post, 1/12/10]

OK, did you get it? Nobody needs to look into the Feds “windfall profits tax” because all the money the Fed takes in goes back into the United States Treasury! Say it with me, “into the United States TREASURY”!

Beck is either a liar – very possible – or he’s as ignorant as a bar of soap – even more possible. Makes you wonder about those who listen to him, doesn’t it?