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A pressure on regulators and accounting rulemakers to ease fair value accounting standards – another financial catastrophe in the making
Suzan Poloy
Oct. 1, 2008
A pressure on regulators and accounting rulemakers to ease fair value accounting standards – another financial catastrophe in the making
Suzan Poloy
The politicians on the both side sof the isle are now eager to pressure on regulators and accounting rulemakers to ease fair value accounting standards. This is a big misteke. It will provide some temporary relief to ‘cancer stricken economy’ but later it the devastation will be far bigger than one can ever imagine.
Even the Europeans are doing the same thing. Nicolas Sarkozy, French president, is to urge his European counterparts to back changes that would introduce more flexibility in the accounting rules. David Cameron, leader of the UK’s opposition Conservative party, said the rules had made the crisis worse and needed to be addressed.
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