Banks and Banking. Misappropriation of Trust Funds. Liability of Bank. United States, Etc., Co. v. Union Bank, Etc., Co., 228 Fed. 448

1916 ◽  
Vol 2 (1) ◽  
pp. 69
Keyword(s):  
United States ◽  
Trust Funds ◽  
Banks And Banking

scholarly journals The USA Federal Debt-to-GDP Ratio and The Unified Budget Act’s Lack of Generally Accepted Accounting Principles

2021 ◽  
Vol 5 (2) ◽  
pp. 49-57
Author(s):  
Paul F. Gentle
Keyword(s):  
United States ◽  
The United States ◽  
Public And Private ◽  
True Nature ◽  
Generally Accepted Accounting Principles ◽  
Accounting Principles ◽  
Trust Funds ◽  
The Usa ◽  
Federal Debt ◽  
Blue Line

Here in the beginning of 2021, two of the truly relevant federal public finance issues are presented in this article. One is the Debt-to GDP Ratio. The second topic is the true nature of deficits, surpluses and future liabilities treated in budgets constructed via the Unified Budget Act. Two graphs on these issues are included. This article shows that the present Debt-to-GDP ratio is relatively high, as if the nation similar to when the United States was in a period of a major war. This graph is shown in this article’s Figure 1. There has been evidence in the macroeconomic literature that indicates a high Debt-to-GDP ratio can possibly result in some degree of slowed economic growth. Though the literature is varied on that point. The reason for the possible crowding out effect has to do with the competition for loanable funds. There is competition from both the public and private demanders of those loanable funds. Furthermore, there is the reality that all federal trust fund balances of the United States must be used to hold U.S. Treasury bonds. For figure 2, two categories on U.S trust funds are shown. One category is the combined total of Social Security. Medicare, Disability and related funds. This is shown in a red line. All the other federal trust funds are indicated in a blue line. There is a graph that shows these two lines. The graph is of the percentage share between the two categories. As a result, the red and blue lines are inverse functions of each other. Over the eighty-year period (1940-2020), there has been variation if both the red and blue lines. The goal of this articles is for leaders and government analysts to be more aware of the issues of the USA Federal Debt to GDP Ratio and the Unified Budget Act’s lack of Generally Accepted Accounting Principles.

scholarly journals Oklahoma

2021 ◽  
Vol 7 (3) ◽  
pp. 416-436
Author(s):  
Mark D. Christiansen
Keyword(s):  
United States ◽  
Supreme Court ◽  
Oil And Gas ◽  
The United States ◽  
State Law ◽  
Trust Funds ◽  
White Star

The case of White Star Petroleum, LLC v. MUFG Union Bank, N.A. presented two questions of state law certified to the Oklahoma Supreme Court by the United States Bankruptcy Court for the Western District of Oklahoma: (1) Are the “trust funds” create[d] by Title 42 O.S. § 144.2, entitled “Creation and Appropriation of Trust Funds for Payment of Lienable Claims,” limited to obligations due nonoperator joint working interest owners, or do such funds include payments due [to] holders of mechanic’s and materialmen’s liens arising under and perfected by Title 42 O.S. § 144? (2) Does the Oil and Gas Owners’ Lien Act of 2010 grant an operator and non-operator working interest owner a lien in proceeds from purchasers of oil and gas which is prior and superior to any claim of the holder of a mechanic’s and materialmen’s lien asserted under Title 42 O.S. § 144? The above questions were certified to aid in the bankruptcy court’s resolution of two particular adversarial proceedings.

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