Why not do away with inconvenient, revealing accounting standards altogether?
Eric
FASB's reprehensible capitulation has allowed banks to overstate their assets by increasing the value declared on crap OTC derivatives.
NOW the banks, according to this article, are hiding their debt size too.
Now if you overstate your assets and understate your debt you used to go to the clink.
However now it is called a Jobless Recovery.
Source: online.wsj.com
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