Comments on: Will the G20 crack down on the FASB? http://blogs.reuters.com/felix-salmon/2009/04/02/will-the-g20-crack-down-on-the-fasb/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Chris http://blogs.reuters.com/felix-salmon/2009/04/02/will-the-g20-crack-down-on-the-fasb/comment-page-1/#comment-72 Fri, 03 Apr 2009 07:47:51 +0000 http://blogs.reuters.com/felix-salmon/?p=208#comment-72 First of all I hope Felix you are happy in your new home, keep up the good blogging!

Secondly, whilst I agree that the new FASB rules are dismal and short sighted, I do not think that retail investors should have an advantage over institutional investors, which is what you seem to imply in the post.

Ignorance of the law is no defense in a courtroom and ignorance of a companies’ financial position is no excuse either. Caveat centaur.

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By: oscar http://blogs.reuters.com/felix-salmon/2009/04/02/will-the-g20-crack-down-on-the-fasb/comment-page-1/#comment-71 Fri, 03 Apr 2009 04:49:52 +0000 http://blogs.reuters.com/felix-salmon/?p=208#comment-71 For its part, the IASB caved into to political pressure from the EC last October — it was given one day to make a rule change it was not disposed to make, but did make.

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By: Larry Doyle http://blogs.reuters.com/felix-salmon/2009/04/02/will-the-g20-crack-down-on-the-fasb/comment-page-1/#comment-62 Thu, 02 Apr 2009 19:04:35 +0000 http://blogs.reuters.com/felix-salmon/?p=208#comment-62 This rule change is akin to the Japanese style approach of not recognizing losses. Additionally, banks now have NO incentive to sell toxic assets. They will merely keep them on their books. Result…? Credit will NOT flow.

Why did the head of the Federal Home Loan Bank Office of Finance just resign? Because he knows that relaxing the mark to market is a means for the FHLB system to effectively cook their books.

If you care to read more, I believe this change is nothing more than Putting Perfume on a Pig

http://www.senseoncents.com/2009/04/putt ing-perfume-on-a-pig/

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