If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!There has been a deliberately high signal-to-noise-ratio (”the ratio of a signal power to the noise power corrupting the signal“) around the financial fiasco. The reason for this is the same reason that a magician does patter — to [...]
The Financial Accounting Standards Board (FASB) has approved a new set of rules allowing financial firms to fiddle with how big their real-estate losses are.
The change is in mark-to-market accounting rules, which say companies must value assets at prices reflecting current market conditions. But now the phrase “current market conditions” will have a big asterisk [...]
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