Re: creation of credit

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Article #3093

#3093

From: Lantern
Date: Thu, 17 Jan 2008 01:05

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On Jan 16, 2:56 pm, RichD <r_delaney2...@yahoo.com> wrote:

> Anyone here know any accounting, what is this
> balance sheet smoke?

A balance sheet lists "assets and liabilities". Apparently some
financial institutions used the loop hole that some things are not
"assets" and not "liabilites". They got away with it because some
derivative investments are not subject to regulating. Never-the-less,
there are accounting standards and good business practices and therein
is why the states of NY and Conn are investigaitng. Buyer beware.

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From: Lantern <lantern01@peoplepc.com>
Newsgroups: sci.econ, misc.taxes, uk.legal, uk.finance, ie.general
Subject: Re: creation of credit
Date: Wed, 16 Jan 2008 17:05:52 -0800 (PST)
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