Related to the work of our Hero of the Week, Steve Aftergood, our Blast from the Past is a reminder of the impact of the missing money and the adoption of Federal Accounting Standards Advisory Board Statement 56 (“FASAB 56”) on the credit of U.S. Treasury bonds and government securities.
You can find the article here.
While we encourage investors to do their own due diligence, we also recognize that FASAB 56 eliminates any hope that the investor will be able to obtain sufficient information to accurately assess the credit and value of his or her holdings of U.S. Treasury and other securities whose values are affected by Statement 56 (i.e., a meaningful percentage of U.S. public and private equity and debt securities).
Related Reading
Comment on FASAB 56 in January 2019
FASAB Statement 56: Understanding New Government Financial Accounting Loopholes
