The G20 Meeting…..A Turning Point?

Okay Peachtree City…can we talk for a moment?  It’s official!  After the meeting of the G20 all of the World’s Governments are now focused on “fixing” the problems at all costs.  Hmmmmm…so when did government get bigger than the market?  Don’t know.  Back to the G20 in uno momento. 

First…what you may or may not know is that recently the Financial Accounting standards Board (FASB) suspended its rule #157-e…the Fair Value Rule.  Basically this rule requires banks to value their assets using a “mark-to-market” method.  Not sure what mark-to-market valuation is all about…go back and check out an earlier post of mine.   Anyway, the FASB reports that the new measure purports to guide asset holders who mark their holdings to market through a two-step process to help them decide “whether a market for a financial asset that historically was active is not active and whether a transaction is not distressed.”