In what seems a stinging rebuke to the federal policies of bailing out auto companies enacted by President Barack Obama last year, Ford Motor Company announced today that they managed to make a $2.7 billion profit in 2009.

Undoubtedly, the Cash For Clunkers program is going to get credit for Ford’s success – but the automaker posted profits in three of four quarters last year.

The 86 cent-a-share profit blew away predictions of a 31 cent loss for the year by Wall Street experts.