DorthyP
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No.
We still know the 'stuff' is on the balance sheets and if the financials are actually allowed to adjust capital based on unreal marks then who will ever buy financials again - how can you trust them?
Unfortunately, the FASB has become a puppet for Congress and the regulators, as they undo decades of work that provided investors with more timely information on banks assets.
If FASB goes ahead with the proposals, capital markets will remain closed to major banks and other financial intermediaries for an extended period of time, Investors will not be willing to commit capital to firms that hide the economic value of their assets and liabilities.
 Posted 538 days ago
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