![]() |
— |
U.S. accounting watchdog eases mark-to-market rules The Financial Accounting Standards Board (FASB), pressured by U.S. lawmakers and financial companies, voted to relax fair-value accounting rules that Citigroup Inc. and Wells Fargo & Co. say don’t work when markets are inactive. Changes to fair-value, or mark-to-market accounting, approved by FASB today allow companies to use “significant” judgment in gauging prices of some investments on their books, including mortgage-backed securities. Analysts say the measure may reduce banks’ writedowns and boost net income. Firms could apply the changes to first-quarter results. House Financial Services Committee members pressed FASB Chairman Robert Herz at a March 12 hearing to revise fair-value, which requires banks to mark assets each quarter to reflect market prices, saying it unfairly punished financial companies. Financial shares rose after the FASB move. Citigroup rose 2.2 percent to $2.74 at 4:15 p.m. in New York Stock Exchange composite trading. Bank of America Corp. added 2.7 percent to $7.24. The KBW Bank Index earlier rose as much as 6.1 percent. FASB’s vote was “long overdue,” Representative Spencer Bachus, the ranking Republican on the House Financial Services Committee, said in a statement today. “Financial institutions and community banks have been adversely affected by the rigid application of these rules during this financial crisis, causing further instability in the banking system.” |
Sage décision, pour une fois…
Le G-20 fait de l’esbroufe populiste pour plaire à la plèbe.
La solution à cette crise passe par des mesure de déréglementation. L’État a créer cette crise, ce n’est pas avec une plus grande intervention qu’on va s’en sortir.
Mais les politiciens aiment bien faire croire aux gens qu’ils sont indispensables. Que sans eux, nous serions trop con pour prendre des décision et vivre librement.
Ouf! Ça c’est du bonbon!
La meilleur qualification du G-20 c’est: show de boucane.
Des politiciens dépassé par les événements et ne comprenant rien à l’économie se réunissent pour se faire croire qu’ils contrôlent quelque chose.