Discussion in 'Trading' started by ksonsinc, Apr 1, 2009.
Is there any new out or is it just april fool in the spike in the futures - ???
No more mark to market and all banks are profitable forever going forward.
Oh wait, that news is going to be announced tomorrow.
FASB suspend Mark-to-Market for Banks & Homeowners
FASB will suspend Mark-to-Market for banks tommorrow. Banks can use Mark-to-Model valuation instead.
The idea was so grand that it spillover to homeowners. Any homeowners who are upside down on their mortgage (ie, their homes are worth less their outstanding mortgage) can now instruct their real estate appraisers to use Mark-to-Model instead of market value.
The global credit crisis is now over. Homeowners can use the increase in their home value to get additional home equity loans.
Dow is selling Morton salt for a few billion.. That was the deal.
....and the great American Ponzi scheme continues. Gotta love balance sheet opacity.
Is it me, or is all I see another smoke and mirrors hair brained idea that will get us in more trouble some how?
Separate names with a comma.