Tag Archives: FASB

FASB RULES RULED OUT BY CORRUPT CONGRESS

EASY READING CULTURE OF LIFE NEWS:  FASB RULES RULED OUT BY CORRUPT CONGRESS « Culture of Life News 2

 

Millions of Americans voted for ‘change’.  Instead, we get ‘stagnation.’  This is due to the absolute army of still-very ‘wealthy’ lobbyists and donors to both parties, infesting the system.  So even the smallest reforms are thrown out the window.  And even slight changes in our disastrous foreign policies and expanding warmongering, are defeated before they even appear in public.  So we don’t have ‘change’, we have ‘more of the same.’  For example, the mark-to-market rule is being tossed overboard so banking gnomes can set fantasy values on trashy tranches that switched from being assets to debits, two years ago.  This is because many of these loans are NON-PERFORMING assets which means, they are losses since no one is paying any interest or principal on them. Continue reading

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