{"id":192579,"date":"2009-03-17T17:34:00","date_gmt":"2009-03-17T22:34:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/03\/17\/fasb-moves-toward-giving-lunatics-control-of-the-asylum\/"},"modified":"2009-03-17T17:34:00","modified_gmt":"2009-03-17T22:34:00","slug":"fasb-moves-toward-giving-lunatics-control-of-the-asylum","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/03\/17\/fasb-moves-toward-giving-lunatics-control-of-the-asylum\/","title":{"rendered":"FASB Moves Toward Giving Lunatics Control of the Asylum"},"content":{"rendered":"<p>Financial Accounting Standards Board (FASB) looks to have caved, and its <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=ar8GMXGDnlws\">moving to significantly weaken mark to market accounting<\/a>.<\/p>\n<p>This is very bad news in the long term, and, because, &#8220;would be able to apply the revised rule to their first-quarter financial statements,&#8221; we are going to see a bunch of <span style=\"font-weight:bold;\">very<\/span> rosy results from the banking sector, but this will all be lies.<\/p>\n<p>This is a bad move.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial Accounting Standards Board (FASB) looks to have caved, and its moving to significantly weaken mark to market accounting. This is very bad news in the long term, and, because, &#8220;would be able to apply the revised rule to their first-quarter financial statements,&#8221; we are going to see a bunch of very rosy results from &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1004,985,982],"tags":[],"class_list":["post-192579","post","type-post","status-publish","format-standard","hentry","category-finance","category-regulation","category-stupid"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192579"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=192579"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192579\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=192579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=192579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=192579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}