Reading Time: 8 minutes (Update Apr 2). April Fool’s day was yesterday but Financial Fool’s day continues. FASB just lifted the strict mark to marke rule (business week; market watch). (Original) This is NOT what I am saying, but this is essentially the bankers and their friends in congress are saying these days. Tomorrow FASB will vote on fasb
Reading Time: < 1 minute A bunch of politicians (accounting newbies) questioning accountants C-span video here. All right, more finger pointing. Now people (oh, I mean Wall Street and their friends at Washington) are blaming mark to market (wiki), for the financial crisis. This is almost same as blaming starbucks for one’s coffee addiction problem. Coffee, if consumed modestly, is
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