Monthly Archives: December 2008

Three Long Articles on Three Big Failures

If you have time, there are two long articles that are worth a read.  The first is from the Washington Post, and deals with the demise of AIG, highlighting the role of AIG Financial Products.  It was written in three parts — one, two, and three, corresponding to three phases: Growth of a clever enterprise, […]

Fair Value Accounting — It Is What It Is

I’ve written on mark-to-market accounting before.  Searching my blog, I was surprised to find how many pieces I have written in 2008 on the topic. Pandora and the Fair Value Accounting Rules Mark-to-Market Accounting Is not the Major Problem The Economics of SFAS 157 Accounting Rules Do Not Affect Cash Flows Illiquid Assets Financed by […]

The Credit Crunch at Play

(graphic obtained here, by enrevanche) I’ve subscribed to The Economist for 22 years.  IN my opinion, it is the best English language newsweekly in the world.  Every now and then they toss a game into the magazine.  This time, the Internet aids the game, in that you can download cards, money, pieces, and rules. This […]