FASB: Taxpayers Should Feed Banks More (Pt. 2)

But that’s not all
(This concludes my look at what the FASB has done. CLICK HERE if you missed the opening)…
The FASB is also going to allow companies to list impaired assets like mortgage securities in their books as “other comprehensive income.” This improves operating income by allowing companies to report [...]

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Thursday, April 2nd, 2009 by
Steven Tarlow

FASB Gives Banks Ticket to Doctor Their Books (Pt .1)

Long-term fix or short-term trickery?
Banks saddled with toxic assets have cried to the government for relief. They’ve received a cash advance of taxpayer money, and now they’ve been given yet another gift.
Ronald Orol reports for MarketWatch that the Financial Accounting Standards Board (FASB) voted unanimously to “give auditors more flexibility [...]

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Thursday, April 2nd, 2009 by
Steven Tarlow