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Pardon me, but if all of these Credit Default Swaps are “off the balance sheet” what damage can occur to the balance sheet if they are allowed to go to zero?
I’m not particularly of a financial mind, but accounting rules have meaning and, perhaps, I’m missing the meaning of “Balance Sheet” Or is it that they are really on the balance sheet in a disguised way?
If so, I’d say “too bad, so sad”.
Thanks, Guys.
It really is the job of the BOD to remove retarded CEO’s who are willing to bankrupt 100 year old companies and manage the company stock price instead of managing the company.
It’s not the Gubmint’s job.
At least in a free market it is. The WSJ and NY Post are right.
But then we are in the new phase of the USSA.
If they won’t do it, then BFO and angry libs in Congress and pseudo conservatives on forums will do it for them.