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Overview of the Emergency Economic Stabilization Act of 2008 - Kevin Bondelli’s Youth Vote Blog

Started by Kevin Bondelli · 9 months ago

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3 comments

  • Jason

    9 months ago

    Even the Financial Accounting Standards Board’s couldn't figure out how to deal with the mark-to-market accounting shortly after the Enron debacle. Even the Arthur Andersen accounting firm had problems with it which led to its failure too. Enron filed for bankruptcy 2001. The Financial Accounting Standards Board’s has had 7 years and they did nothing. nomedals.blogspot.com
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  • Kevin Bondelli

    9 months ago

    Yeah. The mark-to-market issue has been a tricky one. Initially firms were able to come up with their own arbitrary formulas for valuation which allowed them to fudge numbers however they wanted. The rules were changed in an attempt to create a sort of standardized formula for mark-to-market valuations, yet while this may have helped a little, it didn't solve the problem.
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  • Katherine

    8 months ago

    You mentioned the benefit to minority business enterprises with respect to government contracts initiated by the Secretary, but are there any other "goodies" to help out MBEs? What about in the private sector, through the banks for example?
    reply

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