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Strategies & Market Trends : Value Investing
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To: Broken_Clock who wrote (30552)4/6/2008 1:08:51 AM
From: Madharry  Read Replies (1) of 78704
 
My understanding is they are letting them go back and deduct their losses against previous profits and collect tax refunds. Meanwhile income averaging for joe six pack was repealed in 1986. how about tax breaks for the newly unemployed, congressmen?

here another good one courtesy of this weeks barrons. financial firms are now allowed to book profits when the value of their own debt securities go down as if they had repurchased them for less than than par even though they havent. The barrons goes on to cite specific examples. apparently bear and stearns profits would be going through the roof it this year if they could have remained independent. oh well. Yet another lesson to be learned for people who rely on p/e ratios to buy financial stocks.
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