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Politics : Politics for Pros- moderated

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To: carranza2 who wrote (241549)	3/11/2008 9:34:21 PM
From: rich evans	Read Replies (2) of 794002

The solution is to wait and see. A legal doctrine that you are familiar with as to estate planning. In order to implement this doctrine you need to change to accounting rules for CDOs and other derivatives/bonds. There is an article by Paul Craig Roberts on Mish's thread to do this. I agree and wrote this post on Mish's thread as to how to do this. Message 24392227 Market price is not necessarily the correct price so wait and see taking credit provisions when payments become non-performing like a normal loan by a bank etc. Don't let it impair balance sheet until you have a non-performing loan and then only to the extent of the NPA. Then you can loan against your higher capital and make money to pay for future increase in loan loss provisions. King James in Estates and Wills in 1600 used wait and see. Why can't we? Rich

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