"Some of the interest, say 10%, it gets from those bonds it holds onto the Fed uses to fund its operations. The Consumer Financial Protection Bureau, for instance, by way of Dodd-Frank, specifically gets funded from the interest that the Fed collects on the U.S. Treasury debt it owns." (Debt Ceiling: Could Ron Paul's Plan Save Us From Disaster, twice? - The Curious Capitalist - TIME.com) By law the FED stakeholders DO NOT profit off of QE2 bills.
Making a description of earliest "life" is difficult because the earth was so different then. Most people only see and can envision what we live in now. They cannot "see" anything else. Life could not start now as it did "then" because of the oxygen we have now.