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SEC Loosens Rigid Accounting Rules

Started by cordblomquist · 9 months ago

Rigid application of mark-to-market accounting rules may have spawned the current financial crisis by artificially undervaluing mortgages and securities (making financial institutions appear insolvent).  And even the very government officials who advocate those rules have hin ... Continue reading »

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  • while focusing managers’ attention on trivia like which employee has access to which computer password. Those regulations were used by subprime mortgage lender Countrywide Financial to divert attention from its risky lending practices,

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