more stupid policy changes

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that1guy's picture
that1guy
Status: Gold Member (Offline)
Joined: Jan 11 2009
Posts: 333
more stupid policy changes

Check it out, yet another horrible policy change

 

http://finance.yahoo.com/news/FASB-relaxes-accounting-rules-apf-14836397.html 

Now they can 'legally' lie to us, not that they weren't already...

that1guy's picture
that1guy
Status: Gold Member (Offline)
Joined: Jan 11 2009
Posts: 333
Re: more stupid policy changes

here is an excerpt from the article.......horrible

'The new guidelines remove the presumption that if there isn't a current active market for assets, they must automatically be considered distressed. They also will allow banks to avoid reporting some losses on securities by splitting them among factors like anemic markets or fluctuating interest rates that won't have to be counted toward net income or loss.'

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