tag:blogger.com,1999:blog-2611021408437270881.post7062580005866279754..comments2024-03-18T23:59:39.885-07:00Comments on Skeptical CPA: Congress and the CPAsIndependent Accountanthttp://www.blogger.com/profile/07800220849565219709noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2611021408437270881.post-68442329796477293122009-04-02T08:07:00.000-07:002009-04-02T08:07:00.000-07:00Isn't Barney a big purple huggable dinosaur? Who w...Isn't Barney a big purple huggable dinosaur? <BR/><BR/>Who was hugging Barney? Was it a shiny headed Secretary? <BR/><BR/>Is big, purple dinosaur working hard to make everything appear neat and tidy now?<BR/><BR/>From brilliant Tracy Alloway at the FT...<BR/><BR/>"But there’s a hitch. Tim Backshall of Credit Derivatives Research put it well in a research note, via Reuters:<BR/><BR/>The hopes of the FASB mark-to-market snafu this week are in our view ‘crazy’ - we still know the ’stuff’ is on the balance sheets and if the financials are actually allowed to adjust capital based on unreal marks then who will ever buy financials again - how can you trust them?"<BR/><BR/>So the clever bankers put purple dinosaur and friends over the barrel and then investors say "NG"... <BR/><BR/>And the FDIC can keep "insuring" bank debt? Will it become permanent? They've made a Looking Glass... <BR/><BR/>How much Treasury debt did you say will need to be issued/rolled? The debt markets have a new topography... <BR/><BR/>Although it's a new cast of players <BR/>(let's count the dead IBs) and a new time for pushing back...<BR/><BR/>All too much IA... all too true...Anonymousnoreply@blogger.com