Discussion in 'Trading' started by Digs, Apr 1, 2009.
What time ( ie New York time) ???
Based on ES this evening, it's already been leaked.
I'm thinking we might sell the news on this one too. its been quite a run.
Reading the FASB Board Meeting Handout that was just posted on the website, looks like there's gonna be NO relaxation of the MTM rule (assuming, that is, that my understanding of 'legalese' and 'actuarese' is OK).
All I expect is some possible new guidelines on level 3 assets. The bigger problem is that the potential buyers of the toxic stuff will not pay what the sellers want. Maybe the government's Superfund can be used to clean up these environmental hazards, for those that know what the Superfund is.
Ooops, looks like I was wrong/too hasty...
FASB AGREES TO REMOVE PRESUMPTION IN MARK-TO-MARKET ACCOUNTING
RULE THAT ALL TRANSACTIONS IN AN INACTIVE MARKET ARE DISTRESSED
UNLESS PROVEN OTHERWISE
Can someone tell me exactly what this means in 20 words or less ?
How 'bout this?
*FASB VOTES DURING BOARD MEETING TO RELAX FAIR-VALUE ACCOUNTING
*FASB GIVES BANKS `SIGNIFICANT' JUDGMENT IN VALUING THEIR ASSETS
*FASB VOTE GIVES BANKS MORE FLEXIBILITY IN FAIR-VALUE ACCOUNTING
*ACCOUNTING RULEMAKER EASES FAIR-VALUE STANDARD BLAMED IN CRISIS
*FASB VOTES TO RELAX FAIR-VALUE AFTER PRESSURE FROM LAWMAKERS
is it retroactive?
Yes, pretty sure it will be...
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