William Bergman

Title/s:  Adjunct Instructor



Bill Bergman is an adjunct instructor for Loyola University Chicago. He is the Director of Research for Truth in Accounting, a Chicago-based nonprofit dedicated to educating citizens about government finances, with a view to promoting truthful government financial reporting. He has three decades of financial market experience, in private as well as public sector roles. 


  • B.A. with Distinction, Political Science, University of Illinois Champaign-Urbana (1983)
  • M.B.A., Finance, University of Chicago (1990)
  • M.A., Public Policy, University of Chicago (1990)

Research Interests

  • Government accounting and financial reporting
  • The financial condition of the City of Chicago, the State of Illinois, and the U.S. Government
  • The role and performance of the Federal Reserve
  • Defense Department accounting and finances
  • The financial condition of Social Security
  • The credit ratings industry and capital markets
  • National emergency powers and financial market crisis management
  • Risk management and pricing for interbank payment systems
  • The integrity of the government’s investigation(s) of the events of 9/11

Professional & Community Affiliations

  • National Security Whistleblowers Coalition


Courses Taught

  • FINC 332 – Business Finance
  • FINC 337 – Banking, Money & Capital Markets
  • FINC 450 -- Financial Management
  • FINC 451 – Financial Markets and Institutions
  • FINC 395 – Independent Study 


  • Best Manuscript award, International Accounting Conference, Niagara University (2002)


Selected Publications

Bill Bergman, “Bill’s Blog,” Truth in Accounting (more than 400 articles since 2014)

Bill Bergman, “The Fed’s Mispricing of Liquidity: Nothing New Under the Sun,” Alt-M / Cato Institute, (November 2017)

Bill Bergman, “New Leadership Needed in Government Financial Reporting,” The CPA Journal (April 2017)

Bill Bergman, “Accounting for Turbulence in the Value of Deposits,” American Banker (December 2014)

Bill Bergman, “Those 28 Pages, and That Empty Safe,” Newsbud (December 2013)

William Bergman, Robert Bliss, Christian Johnson, George Kaufman; “Netting, Financial Contracts, and Banks: The Economic Implications,” in Market Discipline in Banking:  Research and Evidence, George Kaufman ed. (2004)

Bill Bergman, “Accounting for Money: The Fair Value of Cash Assets and Deposit Liabilities,” in Cheryl R. Lehman, Tony Tinker, Barbara Merino, Marilyn Neimark (eds.) Re-Inventing Realities (Advances in Public Interest Accounting, Volume 10) Emerald Group Publishing Limited (2004)