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Accounting standards that allow 100% values for Commercial Real Estate Investments and Credit Derivatives and Credit Default Swaps will at some point be overtaken by reality – whatever that is. But this is what we can depend on right now – and who the “bad decision makers” might be list –
My Note – Immediately below this note – there is some of the most obscene uses of the English language to describe the new accounting changes from market values to a modified valuation …