[Cold Heat]

Sunny, the issue for the banks was not how to write down the assets, but how much, and Cox, nor anyone else could get a handle on a falling knife.

It mattered not if the reporting was accurate, as by the time the ink dried, things had all changed.

Cox, and the entire Fed could not advise anyone on what to do with the balance sheet, as there was no guideline or way to value it. The market could not determine it, and if they could not, then the value essentially was zero! But you can't put that on your balance sheet.

[Sunnyflorida]

” the value essentially was zero! But you can’t put that on your balance sheet. “

You make my point. The SEC is in charge of SEC filings and the balance sheets in the 10-Ks and 10-Qs of these companies were overstated. The SEC should have called for a “review.” They do it all the time in my names. Crap they called BOBJ on the carpet for not stating license backlog. But it is impossible for a software company to have backlog. They SEC finally gave up but it took them several quarters before the idiot rookie SEC official in the SF office got lessoned.