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Tag Archives: accounting

6 things worth fighting for in the Senate bill

Excellent table via Rortybomb… although it’s actually 7 or 8 things worth fighting for in the Senate financial reform bill… Mr. Rortybomb misses a big one related to legislation on the Federal Reserve… Ryan Grim of HuffPo writes about it the grant of $4 trillion of lending authority to the Federal Reserve with no Congressional […]

Review and then reform…

I’m planning to write about the new Senate draft of legislation but I wanted to bring up the general lack of discussion in the Congress about the findings of the Lehman Examiner. The failure of Lehman represented the largest corporate failure ever (over $600 billion dollars), triggered a global financial meltdown and was exactly the […]

Derisking the banking system

Senate hearing on prop trading – Feb 2, 2010 Source: PROHIBITING CERTAIN HIGH-RISK INVESTMENT ACTIVITIES BY BANKS AND BANK HOLDING COMPANIES Senate Banking Committee Hearing: Tuesday, February 2, 2010 , 02:30 PM 538 Dirksen Senate Office Building The witness will be: The Honorable Paul Volcker, Chairman of the President’s Economic Recovery Advisory Board. Honorable Neal […]

Do Global Banks Spread Global Imbalances? The Case of Asset-Backed Commercial Paper During the Financial Crisis of 2007–09

Jacques Polak Research Conference at the IMF Financial Frictions and Macroeconomic Adjustment Washington DC, November 5—6, 2009 Session 4: Asset Prices and Crises Chair: Jan Brockmeijer (Deputy Director, Monetary and Capital Markets Department, IMF) Do Global Banks Spread Global Imbalances? The Case of Asset-Backed Commercial Paper During the Financial Crisis of 2007–09 Viral Acharya (New York […]

Defining Risk Calculations Through a Risk XBRL Taxonomy

 Standardize risk and make it transparent… yes that is the path to stability… or we can always add a few more trillion dollars to the financial system… FRSGlobal are very smart guys… they have the answer here… it’s XBRL for risk reporting and security identifiers…

I believe that transparency and neutrality of information actually reduce uncertainty and promote stability.

Excellent speech by John Smith, the Chairman of the International Accounting Standards Board, given May 8th at the European Commission Conference “Financial Reporting in a Changing World” … He begins by making the case for the United States to adopt IFRS (the International Financial Reporting Standards)… this seems an easy decision for a country with a free […]

involve a total including TARP funds, Federal Reserve loans, FDIC guarantees that could reach nearly $3T

  From FT.com… ~~~~ “Tim Geithner, US Treasury secretary, will face lawmakers in Congress on Tuesday, hours after publication of a report that criticises aspects of the bank bail-out and days before stress test results that could lead to the government taking larger stakes in the financial sector. His appearance before the congressional oversight committee comes after […]

The international FAS 157-e

From FT’s Alphaville… ~~~~ “Analysts at Dresdner, meanwhile, are rather less sanguine. “On the positive side, the new accounting methodology could mean higher asset valuations and short term relief of capital pressures, and could subsequently have a positive effect on 2Q 2009 earnings. However, we think a number of negatives outweigh the positives! First of all, […]

Tangled tangibles

Not pretty for Bank of America…  From FT Alphaville ~~~~ “Inevitable, really. Having whittled bank valuation metrics down to tangible book values, analysts are now starting to question how tangible those books might actually be. An interesting note out of Citigroup this week focuses on the issue of deferred tax assets, which in the case […]

Solution – Reversing the problem

Excellent proposals on a way forward for our nation from Jesse’s Cafe…  (read the whole post at Jesse’s site … very good) ~~~~ “Solution – Reversing the problem” We are now trying to nurse our banks back to health by putting them (the insolvent banks) on extremely expensive life support systems. The patient is going to […]