Enron execs were jailed for such.

The FED announced new accounting "rules" on Jan 6, 2011. According to these "new" rules, the FED can shove its losses to the Treasury and pretend that it is doing fine. This is the same kind of gimmick that led to the jailing of Enron executives.

Just to make sure that ordinary yokels do not understand what is going on, the FED will call the losses as a "negative liability," instead of a reduction in its capital. The FED will then pretend that everything is fine and go on its merry printing as usual.

Enron executives shoved their losses into a subsidiary and pretend that these losses were mere "negative liability." There is really nothing new under the Sun.