The ‘mark to what we wish the market would pay’ accounting, as opposed to ‘mark to what it really sells for market’ accounting.
And haven’t they fixed it so that the losses show up on the Treasury balance sheets?
I am not an acountant but if you count AGI, GM , Chrysler , Fannie and Freddie how do figure you can show a profit?
No, I believe assets are stated at cost until there is a gain or loss that is realized. Depreciation is only used for assets with a “useful life”. Please correct me if I am wrong. I went to B-school 8 years ago, but accounting was not my concentration. I merely skated through the classes and haven’t used much of it since.
No.