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The FASB Is Prepared for the Wailing and Gnashing of Teeth

Posted on May 27, 2010 by Caleb Newquist

“[It] will not be very warm.”

~ FASB Chairman Bob Herz, on the financial services industry’s reaction to the Board’s new proposals for valuing loans and loan-like instruments at their market value.

Posted in Quote of the DayTagged Banks, Bob Herz, Fair Value, FASB, Quote of the Day

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Next: Accounting News Roundup: FASB Takes Another Stab at Mark-to-Market; Property Taxes Are States’ Savior; CFOs Prefer to Get Taxes Right | 05.27.10

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I challenge John Thomas Financial CEO Thomas Belesis to a match on the Jerry Springer show. To even the odds, he can bring Overstock.com CEO Patrick Byrne. Two crooks versus a convicted felon born in Brooklyn. They can bring actor turned stock pumper Shia LaBeouf for added muscle, too.

~ Sam Antar, reacting to Thomas Belesis calling him an idiot after Antar suggested that Shia might be able to shed some light on the goings-on at John Thomas Financial involving InterOil. And if you forgot, Sam and Patrick have a bit of a history.

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