Archive - Feb 8, 2009
In Preparation For An End Of Mark-To-Market, One Last Look at FAS 157... and FAS 115
Submitted by Tyler Durden on 02/08/2009 22:48 -0500The newsflow from D.C. over the next two days will make the lives of capital markets participants very exciting. Among the key expected news items is the rumored (temporary) abandonment of Mark-To-Market accounting principles, which caused quite a market rally on Thursday of last week. So as we prepare to say goodbye to the last relic of what was once an efficient market, it might make sense to reevaluate just what it is in the current accounting rules that is so inconvenient for the administration and Wall Street. Among these, chief is the Statement of Financial Accounting Standards No.
In Preparation For An End Of Mark-To-Market, One Last Look at FAS 157... and FAS 115
Submitted by Tyler Durden on 02/08/2009 22:48 -0500The newsflow from D.C. over the next two days will make the lives of capital markets participants very exciting. Among the key expected news items is the rumored (temporary) abandonment of Mark-To-Market accounting principles, which caused quite a market rally on Thursday of last week. So as we prepare to say goodbye to the last relic of what was once an efficient market, it might make sense to reevaluate just what it is in the current accounting rules that is so inconvenient for the administration and Wall Street. Among these, chief is the Statement of Financial Accounting Standards No.
How The World Almost Came To An End At 2PM On September 18
Submitted by Tyler Durden on 02/08/2009 17:56 -0500LiveLeak has caught a scary moment of previously undisclosed insight by Paul Kanjorski where he reveals some facts that have not been captured by the media previously. At 2 minutes and 20 seconds in the video below, Democratic Representative Kanjorski explains how the Federal Reserve told Congress members about a "tremendous draw-down of money market accounts in the United States, to the tune of $550 billion dollars." According to Kanjorski, this electronic transfer occurred over the period of an hour or two.
Schaeffler In Crisis After Overpaying for Continental AG
Submitted by Tyler Durden on 02/08/2009 15:18 -0500In what could go down as the sad conclusion to the dumbest acquisition of all time, ball-bearing maker Schaeffler, which acquired Europe's second-largest auto-supplier Continental AG, has said in an e-mailed statement that it is seeking an investor, after being saddled with $14 billion of debt as part of the acquisition.
Steven Rattner's Car Czar Throne Denied By Wife's DWI?
Submitted by Tyler Durden on 02/08/2009 02:35 -0500
As Detroit's automakers burn in the 7th circle of debtor hell, people have been wondering - where is Steve Rattner?
Steven Rattner's Car Czar Throne Denied By Wife's DWI?
Submitted by Tyler Durden on 02/08/2009 02:35 -0500
As Detroit's automakers burn in the 7th circle of debtor hell, people have been wondering - where is Steve Rattner?
Steven Rattner's Car Czar Throne Denied By Wife's DWI?
Submitted by Tyler Durden on 02/08/2009 02:35 -0500
As Detroit's automakers burn in the 7th circle of debtor hell, people have been wondering - where is Steve Rattner?
