May 7, 2020

Improving the Accounting Gimmicks in the CARES Act

Improving the Accounting Gimmicks in the CARES Act

6 weeks ago I wrote [https://www.crisesnotes.com/a-quarter-of-the-2-trillion-dollar/] about a key provision of the CARES act which devoted 454 billion dollars in congressional appropriations to, in essence, insuring the Federal Reserve against losses it would otherwise take related to its crisis actions.