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Accounting Tweak Could Save Fed From Losses
CNBC ^
| 1/21/2011
| staff
Posted on 01/22/2011 7:58:37 AM PST by FromLori
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To: FromLori
We are - economically speaking - living in the land of Oz, only there is no one Wizard at the controls, but a committee of Wizards (the Fed policy committee) that is as dumb as the Wizard in the movie staring Judy Garland.
So, where we - the citizens and taxpayers - were before indirectly liable for the Fed's losses - due to what those losses will mean as far how the Fed manipulates things, NOW we will be DIRECTLY responsible for any losses and bad “investments” the Fed moves to the accounts of the U.S. Treasury.
This “accounting maneuver" simply gives the Fed more wiggle room to expand how much it is printing money, without it's books looking as bad as they would have if the "losses" had not been transferred directly to the Treasury (taxpayers).
21
posted on
01/22/2011 9:14:55 AM PST
by
Wuli
(e)
To: BealNoortz
Those tulip bulbs are still worth every penny we paid for the them.
22
posted on
01/22/2011 9:16:21 AM PST
by
Oldexpat
To: FromLori
“An accounting methodology change”. What? Accounting tricks used by Bernie Madoff?
23
posted on
01/22/2011 9:17:55 AM PST
by
6SJ7
(atlasShruggedInd = TRUE)
To: Wuli
only there is no one Wizard at the controls, but a committee of Wizards (the Fed policy committee) that is as dumb as the Wizard in the movie staring Judy Garland. A group of humans is usually stupider than the dumbest individual in that group.
24
posted on
01/22/2011 9:20:01 AM PST
by
null and void
(We are now in day 732 of our national holiday from reality. - 0bama really isn't one of US.)
To: The Comedian
Coming soon to a financial system near you...
25
posted on
01/22/2011 9:25:03 AM PST
by
houeto
(Government derives its just powers from the consent of the governed.)
To: arthurus
Accounting tweaks dont change anything in the real world. This tweak would change something in the real world. It will reduce the amount of money the Fed turns over to the Treasury, if that is what's needed to cover this new liability entry.
26
posted on
01/22/2011 10:35:49 AM PST
by
Toddsterpatriot
(Math is hard. Harder if you're stupid.)
To: Toddsterpatriot
I’m going to try that with my taxes this year. Any redistributions to the treasury will be held in a liability account, somewhere...
27
posted on
01/22/2011 12:08:42 PM PST
by
Huebolt
(It's not over until there is not ONE DEMOCRAT HOLDING OFFICE ANYWHERE. Not even a dog catcher!)
To: Huebolt
...can we ask that the taxes we have to pay come out of our “account” in the Social Security “Trust Fund”?
28
posted on
01/22/2011 4:26:32 PM PST
by
OneWingedShark
(Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
To: OneWingedShark
Silly idea , that money is in a “lock box” for our future and cannot be used for any other purpose.
To: Neidermeyer
“...some exceptions and restrictions apply.”
30
posted on
01/22/2011 6:02:59 PM PST
by
OneWingedShark
(Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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