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Rule Change Lets Banks Reinvent the Past

Without directly changing fair-value rules, a new FASB rule allows banks to "roll forward" noncredit losses and avoid a hit to earnings.

Marie Leone, | US
April 3, 2009

FASB and bank

Well, the banks have a way around the fair market value clause. Ostrich, keep your head in the sand and dont come up for air. What you do not see is what is painted for you to see.

Posted by Leslie Satenstein | April 08, 2009 11:00 am

Banks Shout; FASB Jumps

Rules that are revised as swiftly as these, and under duress, undermine our confidence in the rule-makers. Right or wrong in the substance of their rule-making, FASB was clearly wrong in how this was done.

Posted by Ray Purcell | April 06, 2009 12:29 pm

FAS 157

This FAS should have never been written. It was the root cause of this economic slow down.

Posted by Jack Lopes | April 03, 2009 01:27 pm

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