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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Real Man who wrote (375284)9/30/2008 3:47:12 PM
From: Cynic 20055 Recommendations  Read Replies (2) of 436258
 
News:
SEC reportedly proposing that a company’s estimates should be used for fair value accounting when a market is nonexistent.

Here is what I think of this new rule:
~Banker's perspective: Fair-value accounting
~Investor's perspective: Faith-based accounting:

Borrowing based on stated Income:
~Banker's perspective: Liar loans, but easy money ('cause they thought they can sell the home for higher price)
~Borrower's perspective: "suckers!"

My take:
~Investing in banks based on their fair-value accounting is the same as giving "liar-loans" to the borrowers.
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