re: #318 3 wood

By the way folks, just when we thought the nerds at FASB had learned their lesson about mark to market, here they come back again, trying to prove they were right all along.

Now they basically want to reinstate the rule through the back door, by requiring that assets be valued to the market constantly, instead of every reporting period.

They had a piece on this last night on Kudlow. It would end up requiring banks go from being 5% capitalized or to to 30%, which would in effect put them into default and would evaporate their capital overnight.

It’s still in the proposal stage, but I’ll keep an eye on this.

who 3, any of the names we are familiar with here?