9 December 2024 Madison Literary Club Talk: Shawn Carney & John Davitt
I’ve long been fascinated by forensic accounting. A deep dive into the often arcane world of public and private sector debits and credits can be rewarding.
A few examples:
1. The Federal Reserve in 2022 amidst their substantial rate hike policy:
“If the Fed runs sustained losses, it won’t have to turn to Con gress, hat in hand. In stead, it will sim ply cre ate an IOU on its bal ance sheet called a de ferred as set.“
*** Bond losses occur as rates rise.
2. “The facility allows banks to exchange assets such as U.S. Treasuries for cash at their full-face amount, regardless of the current market value.”
Shawn Carney and John Davitt plan to dive into these topics and more.
Deeper Dive:
Accounting errors force US companies to pull statements in record numbers.
Tax expenditures are the fiscal equivalent of selling indulgences. Who will be our Martin Luther?
Learn more about the Madison Literary Club here (147 years young!). Marc Eisen writes about the November, 2024 meeting.