Alert British Goverment "Buy" out their Banks!

[Mega]

The F*cking Brits are bankupt!
http://business.timesonline.co.uk/to...cle4926316.ece

....and the Bad news is ;)

Mega

[karim0028]

Re: Alert! British Goverment "Buy" out their Banks!

The F*cking Brits are bankupt!
http://business.timesonline.co.uk/to...cle4926316.ece

....and the Bad news is ;)

Mega

Hi Guys,

I have been a reader for several months but this is my first post...

Interesting thing to note in this article is that now apparently the mark to market accounting is being put on "hold" and banks will be able to put their own "estimate" as to how much their crap is worth...

"On Friday night, America’s chief accounting body, the Financial Accounting Standards Board, revealed that it would suspend the mark-to-market rules to take account of extreme market conditions. Institutions will be able to use their own estimates of an asset’s worth instead. The move follows pressure from the US Securities and Exchange Commission. In a “position” statement, the board said: “In determining fair value for a financial asset, the use of a reporting entity’s own assumptions about future cash flows and appropriately risk-adjusted discount rates is acceptable when relevant observable inputs are not available.”


If that isn't leaving the fox to guard the hen house, then i dont know what is.... Gentlemen, we now usher in the era of fraud on a scale never before seen....

[Mega]

Re: Alert British Goverment "Buy" out their Banks!

Welcome !
Enjoy
Mike

[bam]

Re: Alert British Goverment "Buy" out their Banks!

So the end of the world will be delayed a bit... Embrace the new hen house.