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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: NucTrader who wrote (375288)9/30/2008 10:51:25 PM
From: Cynic 2005  Read Replies (1) of 436258
 
There is resistance to this accounting rule 'change.' It may not happen.

Sept. 30 (Bloomberg) -- The U.S. Securities and Exchange Commission probably will resist calls to suspend the fair-value accounting rules that some members of Congress blame for exacerbating the global financial crisis, people familiar with the matter said.

The SEC and Financial Accounting Standards Board today issued ``clarifications'' on how banks should interpret existing rules requiring them to review assets each quarter and report losses if values decline. A moratorium isn't being considered, said the people, who declined to be identified because the plan hasn't been completed.

bloomberg.com
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