SIVs FASPE QRKPQZ PHFFFTTTTTT....blah blah.
How about a little frickin’ English in our society? I guess all that means something, but it don’t mean $hit to me...is this how they’re really stealing my money?
The Federal Accounting Standards Board is tightening a loophole that allowed investment banks to keep mortgage-backed securities off their balance sheets. Now they have to account for those instruments according to their market value, and report them to investors and the government.
In the long run this is a good thing. In the short term it will cause pain for these banks and their investors.
If you want to prosper from their misery, there are funds like the one suggested that sell bank stocks short and profit if they go down.