Quick: Synonym for "Other-than-Temporary?"
Want to get rid of something? Change -- or obscure -- its name.
So, it's no longer swine flu, it's an acronym.
In finance, all the toxic loans still on too-big-to-fail bank balance sheets are not "toxic loans" -- suddenly, they're "legacy assets."
And how are those to be valued?
According to FASB, by applying new, so-called "other-than-temporary impairment" (OTTI) rules.
English actually has a word for "other-than-temporary": it's called 'permanent.'
Sunday, June 7, 2009
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment