with the blessings of the fasb http://www.nytimes.com/2008/07/31/business/31audit.html?partner=rssnyt&emc=rss http://dealbook.blogs.nytimes.com/2008/07/31/accounting-board-delays-an-asset-rule-for-banks/
They really had no choice - if they had stuck to the deadline, we would have seen most of the big banks go belly up. I did an analysis a few weeks back for some project, and I remember that if they hoped to comply with this measure and maintain an adequate tier one ratio, they’d have to raise something like 30 billion in new capital…
luke77 Wrote: ------------------------------------------------------- > They really had no choice - if they had stuck to > the deadline, we would have seen most of the big > banks go belly up. Which could potentially in the long-term not be a bad thing. There is something seriously wrong with the market if most of the companies in it are facing bankruptcy.