Tag: transparency

Fair-Value Accounting Standards Aren’t ‘Fair’ — Stanford Professor

Transparency became a priority following all of the shenanigans that led to the financial crisis and the Great Recession. Banks drew fire because they used traditional accounting principles in order to downplay their huge losses from junk mortgages. The banks valued their financial assets on their original costs. That was problematic but reforms are unfair, according to a Stanford University accounting professor.

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Why Is Transparency Crucial at the Federal Reserve?

Furtive actions by the Federal Reserve show the need for a change to transparency. Then-Federal Reserve Chairman Ben Bernanke argued in 2012 that transparency would lead to a “nightmare scenario” in the Fed’s monetary policies. But many others, including me, feel the Federal Reserve has overtly overstepped its monetary authority – by actually undermining the authority of Congress on fiscal policy issues. Not to mention the bogus printing of money that only benefits Wall Street insiders.

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