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Direxion Daily Financial Bear 3X ETF Message Board

  • mrmcook mrmcook Apr 1, 2009 2:12 AM Flag

    4/2/09 FASB meeting, mark-to-market rules, HUGE!

    FASB is expected to loosen the mark-to-market rules at its 4/2/09 meeting (starting at 8:00 ET, that is, before the markets open).

    April 2
    [Revised order of Topics]
    FASB Board Meeting, 8:00 a.m.
    (This meeting is available by audio webcast and telephone.
    1. Determining whether a market is not active and a transaction is not distressed (estimated 1-hour discussion). The Board will redeliberate proposed FSP FAS 157-e, Determining Whether a Market Is Not Active and a Transaction Is Not Distressed, in light of the comments it has received.
    2. Recognition and presentation of other-than-temporary impairments (estimated 1-hour discussion). The Board will redeliberate proposed FSP 115-a, FAS 124-a, and EITF 99-20-b, Recognition and Presentation of Other-Than-Temporary Impairments, in light of comments it has received.

    In light of the forthcoming earnings releases from financial institutions, the effect will be huge, IMO.

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