"Bad Bank" May Force Another Look At Accounting Rules
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Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.1%
EPS Growth %: +25.9%
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247wallst.com
Robert Rubin, former Treasury Secretary, head of Goldman Sachs (NYSE: GS), and recently departed senior board member at Citigroup (NYSE: C) has been telling anyone who will listen that "mark to market" accounting ruined big banks. That is to say, his reputation would be fine if CPAs has simply done the right thing.
Now banks are up against another set of accounting standards which could force them into yet another round of write-offs and losses. Maybe the federal government can influence a change in GAAP rules to push the problem under a rug.
Continue Reading at 247wallst.com>>>>
Robert Rubin, former Treasury Secretary, head of Goldman Sachs (NYSE: GS), and recently departed senior board member at Citigroup (NYSE: C) has been telling anyone who will listen that "mark to market" accounting ruined big banks. That is to say, his reputation would be fine if CPAs has simply done the right thing.
Now banks are up against another set of accounting standards which could force them into yet another round of write-offs and losses. Maybe the federal government can influence a change in GAAP rules to push the problem under a rug.
Continue Reading at 247wallst.com>>>>
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