At the demand of Congress, the Financial Accounting Standards Board is once again modifying its accounting standard on fair value measurement — FAS 157, for short — in a meeting today. But FASB isn’t really easing the rule, as the WSJ suggested yesterday. Instead, it’s really just clarifying how financial institutions can use different ways to value assets via methods...
Financial Services Industry Archive
April 2009
In recent years, accounting has gone from occupying a drab back-office function in investment banking to claiming center-stage presence. Today it was right in the eye of the headlines again, as the Financial Accounting Standards Board, which sets U.S. accounting rules, met to approve changes in accounting rules aimed at reducing losses banks have been forced to report in the wake of the...
To those in the know, former American International Group (AIG) Chief Executive Maurice (Hank) Greenberg’s testimony before the House Oversight and Government Reform Committee meeting today wasn’t a boffo performance. Greenberg plays the innocent quite well, a function of excellent media training and good lawyering, and he loves to point the finger at everyone else, such as Goldman...
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- Barney Frank Aide Blasts Media Report Alleging Lack of Progress on Financial Reform
- Goldman Sachs, Shareholders Just Can't Get Along
- Geithner: Guilty Until Proven Innocent in AIG Debacle
- ECB President Cautions Interest Rate Hike, But Banks Are Ill-Prepared
- As Income Mobility Falls, American Dream Fades
- Lawmakers Push Bill to Monitor Fed Lending Programs
- Eugene Fama Drinks His Own Brand of Kool-Aid
- Roubini Warns of New Financial Crisis
- Ex-Wells Fargo Loan Officer Details Shady Practices
- Bank of America, JPMorgan Chase are too Late in Moving to Curb Overdraft Fees
- Civil Rights Group Teams With Wells Fargo Despite Charges of Predatory Lending
- State Farm CEO Rust: Effective But Not Greedy
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- As Income Mobility Falls, American Dream Fades
- Creative Destruction and the new Money Trust
- Geithner Deal With Wall Street Over AIG Swaps Cost Taxpayers $13 Billion
- Civil Rights Group Teams With Wells Fargo Despite Charges of Predatory Lending
- Senator Dodd Is Saving Lenders From Themselves
- Citigroup Hit With Huge Credit Loss
- FDIC Chief Sheila Bair to Treasury Brat Geithner: Nyah!
- Private Equity Firms About To Gear Up The Small Banking Sector
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The financial industry meltdown has been the worst since the great depression. BNET Financial provides daily industry trends and news coverage with insights for managers and executives about the major financial services companies in the banking and finance sector. In addition to detailed company profiles, we bring you industry analysis on new mergers, partnerships, financial products, rates, investments, capital, and a host of other critical factors of success in the finance business.