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

Exactly. This FASB thing is a magician's trick of misdirection. The banks will be technically solvent for now and once they move all the crap off their books to taxpayer guaranteed vehicles, they will be actually solvent.

The buyers like Blackrock and Pimco will make out like master thieves in this.

Anyone know which Pimco fund will invest in these?


Quote from 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.
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Fair value accounting should no longer be synonym for mark to market. Fair value accounting now means fair value according to banks as opposed to it's previous meaning, fair value according to market.
 
Quote from W4rl0ck:

Exactly. This FASB thing is a magician's trick of misdirection. The banks will be technically solvent for now and once they move all the crap off their books to taxpayer guaranteed vehicles, they will be actually solvent.

The buyers like Blackrock and Pimco will make out like master thieves in this.

Anyone know which Pimco fund will invest in these?
More...


You might be on to something here.

Give them a call and ask them.


Newport Beach
Pacific Investment Management Company
840 Newport Center Drive, Suite 100
Newport Beach, CA 92660
USA

TEL 866-746-2602*
TEL 949-720-6000
FAX 949-720-1376

* Shareholder Services Hours: 6AM to 5PM
Pacific Standard Time


New York
PIMCO
1345 Avenue of the Americas
New York, NY 10105-4800
USA

TEL 212-739-3000
FAX 212-739-3926
 
Quote from Random.Capital:

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

Apparently... the hope is "if you can put shit onto the back burner far enough, long enough, it will eventually turn to sugar"...
 
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