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AIG and the Lunacy of GAAP Reporting

get it through your thick skulls: mark-to-market means mark-to-market: every investment contract made by AIG was made after the mandating of mark accounting. Every deal they went into had to maintain its value or generate a loss. If there is one thing we know, it's that they had no problem recognizing income from placing deals on their books - essentially benefiting from the mark before anything was actually earned. They took the fees when they did the deals; they ate like pigs at the trough.

Aug 27 07:47 am |Rating: 0 0 |Link to Comment |View article
AIG: The Success of Failure

Just another Hot-shot Failure

Jul 09 05:51 am |Rating: 0 0 |Link to Comment |View article

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Comment Stream » AIG

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AIG and the Lunacy of GAAP Reporting

AIG: The Success of Failure

cranky investor's Comments Stream Stats

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