ever take a finance or accounting class? hmm, there are more ways than one to estimate the value of an asset or liability. these things have absolutely nothing to do with obama. i believe that what this article is trying to get at is that there are other ways to account for an asset/liability worth on a balance sheet and a suggestion of exploring other methods.
Remember the old “I Love Lucy” show episode where they are fighting with Fred and Ethel and get to the point of having Desi’s band come to the apartment to play “EL Breako el Leaso?”
Truth is stranger than fiction. Let’s get Jeff Skilling out of jail so he can tell us how to write and manage the rule for us…
Sounds like congress is blaming accounting rules for lack of lending power but accounting rules don’t dictate required assets needed to fund loans. Also what investor doesn’t want to look at the bank’s balance sheet and know what the market value of those assets are? Would you rather have an old historic cost shown that is completely meaningless? With the sensationalism at the top of our government these days every button possible seems to be getting pushed. This is not going to inspire confidence in the American public.
President Obama can neither be credited or blamed for the mark-to-market accounting rule.
Mark-to-market or fair value accounting refers to the accounting standards of assigning a value to a position held in a financial instrument based on the current fair market price for the instrument or similar instruments.
In other words, a financial institution holding a $300,000.00 mortage on a home that has a current fair maket price of $225,000.00 has to value that property at the market price.
Ok so lets create an accounting method out of thin air to value crap higher than its worth. If that is not democrat thinking I dont know what is.
ever take a finance or accounting class? hmm, there are more ways than one to estimate the value of an asset or liability. these things have absolutely nothing to do with obama. i believe that what this article is trying to get at is that there are other ways to account for an asset/liability worth on a balance sheet and a suggestion of exploring other methods.
Remember the old “I Love Lucy” show episode where they are fighting with Fred and Ethel and get to the point of having Desi’s band come to the apartment to play “EL Breako el Leaso?”
Truth is stranger than fiction. Let’s get Jeff Skilling out of jail so he can tell us how to write and manage the rule for us…
…but we knew that already!
Got to love the cowardliness of a statement like “you do it so we don’t have to” (I think that’s what “do it or I will” really means)
That way if the bubble reinflates and busts again they can point the finger and say “WE DIDN’T DO IT”
Sounds like congress is blaming accounting rules for lack of lending power but accounting rules don’t dictate required assets needed to fund loans. Also what investor doesn’t want to look at the bank’s balance sheet and know what the market value of those assets are? Would you rather have an old historic cost shown that is completely meaningless? With the sensationalism at the top of our government these days every button possible seems to be getting pushed. This is not going to inspire confidence in the American public.
President Obama can neither be credited or blamed for the mark-to-market accounting rule.
Mark-to-market or fair value accounting refers to the accounting standards of assigning a value to a position held in a financial instrument based on the current fair market price for the instrument or similar instruments.
In other words, a financial institution holding a $300,000.00 mortage on a home that has a current fair maket price of $225,000.00 has to value that property at the market price.