FASB M to M rule change, when will it come out tomorrow ?

[CET]

Quote from tradingbug:

is it retroactive?

No, just going forward as I understand it.

 

[Roman Candle]

Presto all is well, banks get more breaks. As for the consumers, tuff luck. Try marking your assets any way you like.

I want to mark up the value of my home, forget market prices. I want to mark up the value of my cars, forest market prices.

I’m so sorry Mr. Consumer you can’t do that, what are you crazy.


http://www.bloomberg.com/apps/news?pid=20601103&sid=auSutnW4GSyw&refer=news

 

[Kassz007]

Poof! Goodbye asset write downs!

It's way more fun as an investor to guess the true balance sheet situation of the banks anyways.....

If the banks say their assets are worth more than they are, then it must be true!

 

[Roman Candle]

Quote from Kassz007:

Poof! Goodbye asset write downs!

It's way more fun as an investor to guess the true balance sheet situation of the banks anyways.....

If the banks say their assets are worth more than they are, then it must be true!

I agree if you can't rust the banks who can you trust. We have never had any banking problems before.

 

[gnome]

The banks don't want the toxic assets to trade in the free market. If they did, a value would be set. (Currently banks want to say they are worth $.80. Investors want to pay only $.30. The actual value is probably between... but the banks would rather arrange a "private" sale to the Gummint/taxpayer for $1.00, of course.)

The banks CAN'T let them trade for $.30 in an open market, and therefore "set" the value. Their balance sheets would be negative most likely.

 

[Roman Candle]

The political fags put pressure on the banks to make these loans, so they did. Now we the tax payers get the bill. The political fags look like heroes and the banks are made whole. What a corrupt system.

 

[gnome]

Quote from Roman Candle:

The political fags put pressure on the banks to make these loans, so they did. Now we the tax payers get the bill. The political fags look like heroes and the banks are made whole. What a corrupt system.

That's about the size of it. And unfortunately, the mass of Americans are not financially nor politically knowledgeable enough to hold anyone accountable...

 

[tmarket]

Quote from Roman Candle:

The political fags put pressure on the banks to make these loans, so they did.

Mostly wrong. The banks lobbied to get into this business and on top of that wanted deregulation to increase leverage to the sky. The CEOs and underlings wanted the short term gains and bonuses. They took them and ran and scammed the system for personal gains.
Nearly all the politicians went along with it because they couldn't see the harm and the contributions were good.

 

[Random.Capital]

Quote from Vespasian:

Can someone tell me exactly what this means in 20 words or less ?

"It's worth whatever you need it to be worth to pass the Stress Test."

 

[Ivanovich]

100% up room to go, free money$$$!