....An agency official said the government objects to allowing banks to
defer losses for several years on the forgiven debt, as would occur in
accounting by lenders under the special program.
The agency "does not consider any plan that defers the timely
recognition of loss as prudent, and any such proposal cannot be viewed
favorably by us," Timothy Long, senior deputy comptroller for bank
supervision policy, said in a letter to the two groups dated Monday and
made public Wednesday.
....
But the fed is allowing banks to hide foreclosures. It's just easier on
the system.
------------------------------------
Yahoo! Groups Links
<*> To visit your group on the web, go to:
http://groups.yahoo.com/group/AsburyPark/
<*> Your email settings:
Individual Email | Traditional
<*> To change settings online go to:
http://groups.yahoo.com/group/AsburyPark/join
(Yahoo! ID required)
<*> To change settings via email:
mailto:[EMAIL PROTECTED]
mailto:[EMAIL PROTECTED]
<*> To unsubscribe from this group, send an email to:
[EMAIL PROTECTED]
<*> Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/
