Don’t Forget M2M Change

This is the week to see if the FASB gives the financial sector the shot in the arm needed to tack on another 20% of gains in an eye blink. From today’s Bloomberg:

Four days after U.S. lawmakers berated Financial Accounting Standards Board Chairman Robert Herz and threatened to take rulemaking out of his hands, FASB proposed an overhaul of fair-value accounting that may improve profits at banks such as Citigroup Inc. by more than 20%.

The changes proposed on March 16 to fair-value, also known as mark-to-market accounting, would allow companies to use “significant judgment” in valuing assets and reduce the amount of writedowns they must take on so-called impaired investments, including mortgage-backed securities. A final vote on the resolutions, which would apply to first-quarter financial statements, is scheduled for April 2.

This entry was posted in Uncategorized. Bookmark the permalink. Both comments and trackbacks are currently closed.


  • Included with Your Subscription:



    $200/year
    Save 17%



    $20/month
    Pay as you go
    Or sign up to receive free email and learn more about the system.
Bestselling Financial Author