From the Editors of American Banker (sent to me via email)
>>FASB Set to Expand Mark-to-Market Accounting
Accounting standard setters are prepared to issue new rules that could have profound effects, not just on how assets and liabilities get valued but on how banks do business in the future.
The Financial Accounting Standards Board wants to vastly expand the use of mark-to-market accounting. In a draft ruling scheduled for release late Wednesday or Thursday, the FASB is expected to propose that banks value unfunded loan commitments and loans they plan to hold to maturity in the same way that they currently value loans they intend to sell. << How about the rules of mark to market that were SUSPENDED???? how do you "expand" the rules?
DOW could not hold 10,000 line so I guess the "black boxes" circled around the jerk and sold. An oversold market that has no giddyup, today was reversal day
If you want banks that lend again, and seperate from the investment boiler rooms they have become, if you're sick of CEO's Banksters getting $50 M bonuses......call or write your congressmen/woman
If we don't take this country back from the special interest gorups, the insiders, lobbyers, banksters....there'll be nuttin' left for our kids.
D
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