Daily Archives: July 28, 2009

Public policy hath no fury like a CPA scorned

Posted on July 28, 2009 by Brian Schuettler

In late 2007, the Financial Accounting Standards Board (FASB) changed the definition of mark-to-market accounting rules as they applied to the U.S. financial industry. The board forced financial firms and auditors to use “observable,” market prices to value securities rather … Continue reading →

Posted in Mark to Market? | Leave a comment

Dethrone King Bernanke and Court to Keep Recovery: Amity Shlaes

Posted on July 28, 2009 by Brian Schuettler

July 28 (Bloomberg) — The Queen of England recently heard from her nation’s economic experts, who wrote to apologize for their profession’s inability to predict the financial crisis. It’s different in the U.S. Here, economists don’t apologize to the throne. … Continue reading →

Posted in The excellent adventures of Ben Bernanke | Leave a comment