Congress critters harass bureaucrats to let banks make up balance sheet numbers. They seem to believe that the solution to the problem is to allow financial firms to play even more loosely with the numbers.
"A bipartisan panel of legislators pressed for changes to mark-to- market accounting rules on Thursday, telling a trio of regulators that the accounting standard was exacerbating the financial crisis and needed to be reformed." <http://www.huffingtonpost.com/2009/03/12/bipartisan-congressional_n_174473.html > We've discussed this before but there is detail here: <http://baselinescenario.com/2009/01/03/sec-report-mark-to-market-accounting/ > Here's an idea. Why don't we change the method for estimating unemployment so that the number comes out 0.5% and change the method of accounting for the budget deficit so that it turns into a $billion surplus? While you're at it congress, make pi = 3. -- A young idea is a beautiful and a fragile thing. Attack people, not ideas. _______________________________________________ OSX-Nutters mailing list | [email protected] http://lists.tit-wank.com/mailman/listinfo/osx-nutters List hosted at http://cat5.org/
