The Financial Accounting Standards Board will hold two votes in the morning, the first at 9 A.M. Eastern. According to this reporter, they will not consider retroactively changing the rules.
While I normally don’t like CNBC fluff, this short piece is informative on what to expect tomorrow. No, I don’t agree with most of these proposals that are meant to simply obscure and allow the further creation of false profits. Yet another moral hazard, a part of what got us into this mess.
Inside Potential Accounting Changes – CNBC (2 minutes):
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