7.31.2008

Honest accounting too painful for FASB

If the doors of accounting were cleansed, every bank would appear to man as it is, insolvent.

FASB lets banks hide stuff off balance sheet for another year.
"If the doors of perception were cleansed every thing would appear to man as it is, infinite." William Blake Aldous Huxley

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White House considering new tax-deferred accounts to encourage investing

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