RSS FeedThis entry was posted on Monday, March 30th, 2009 at 2:25 pm and is filed under economy, financial crisis, mark to market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Former FDIC Chairman, William Isaac, gave me permission to post his letter to the House Financial Services Committee on the FASB proposals.
Click here: [Isaac on FASB Mark to Market]
2 Responses to “Isaac on FASB’s Mark-to-Market Proposals”
Leave a Reply
March 31st, 2009 at 12:43 pm
Bob,
Saw you in Dayton, OH at the R.I.S.E. conference. I just wanted to say you did a great job, and I appreciated your comments about the inadequacy of the stimulus package along with everyone else in the audience!
March 31st, 2009 at 3:46 pm
“BIS, paper by Ingo Fender and Martin Scheicher claims that declining risk appetite and heightened concerns about market illiquidity have provided a sizeable contribution to the observed collapse in ABX prices since July 2007. Importantly, observed ABX prices are unlikely to be good predictors of future default-related cash flow shortfalls on outstanding subprime MBS, especially for those at the higher end of the capital structure.”
see here