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To: Les H who wrote (137835)	7/30/2008 11:33:30 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 306849

ROTFL, now I'm PROUD that I shorted Wachovia today!<NG>

To: Les H who wrote (137835)	7/31/2008 9:40:01 AM
From: Les H	Read Replies (3) \| Respond to of 306849

US banks' $5,000bn balance sheet burden on ice US standard setters postpone the introduction of new rules which will force banks to bring more of their debt assets onto the balance sheet for a year Written by David Jetuah Accountancy Age, 31 Jul 2008 Rulemakers in the US have decided to shelve accounting rule changes that would have seen banks forced to bring up to $5,000bn (£2.5bn) of debt assets onto the books. The Financial Accounting Standards Board said that institutions will now not have to bring more of these holdings onto the balance sheet until January 2010, one year later than originally scheduled. Concerns have been raised recently that the move would force banks to compensate for the extra liabilities by raising new capital in the middle of a tough economic climate. Bob Herz, chairman of FASB told the FT: 'It does pain me to allow something that has been abused by certain folks to let that go on for another year.' accountancyage.com US delays accounting changes By Paul J Davies in London and Joanna Chung in New York Published: July 31 2008 03:00 \| Last updated: July 31 2008 03:00 Banks have been given a one-year reprieve by US accounting standard-setters from having to take up to $5,000bn (£2,520bn) of debt assets on to their balance sheets, easing fears that they would be forced to raise large amounts of new capital quickly. The Financial Accounting Standards Board voted to delay until January 2010 the introduction of rules that will force banks to consolidate more off-balance-sheet vehicles directly in their accounts. ft.com