Filson’s Demand: Show Me the Money
Callahan & Associates Chairman Chip Filson said he questions a nearly $2 billion reduction in the NCUA’s Central Liquidity Facility stock reported in October when U.S. Central Bridge was liquidated. Filson also posted a blistering Feb. 28 opinion piece on the Callahan website questioning the NCUA’s financial transparency on the matter.
CLF financial statements as of Sept. 30 posted on the NCUA’s website show that the fund had $65 million worth of stock purchased by regular members and $1.845 billion purchased by agent members, which refers to U.S. Central. October’s financial statement shows the agent member stock reduced to zero.