Excerpt from Is fair value accounting really fair?
By Emily Chasan
All these write-offs aren't real losses; they're just mark to market," said Stephen Ross, chief executive of Related Cos, one of the largest U.S. real estate developers. (The banks) are being forced to take those losses because accountants have to give them a clean opinion," Ross told the Reuters Housing Summit last week.
Wednesday, April 9, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment