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Why FAS 157 Is Stupid

I am a guest columnist in VentureBeat. Having pissed off all my lawyers friends with my Law Firm 2.0 posts, I figured it was about time to trash the accounting profession. Or at least a part of it.

I hate the new accounting world of FAS 157 and I’m not alone. Fred Wilson posted a great summary about how stupid this whole mess is.

Check out my article and let me know your thoughts.

January 15th, 2009 Categories: Frustrations

http://intensedebate.com/people/jeff_nolan3536 jeff_nolan3536

Agreed! Here's what I wrote about it last year:
http://jeffnolan.com/wp/2008/07/14/al-qaeda-fas-1…
http://intensedebate.com/people/jason4307 jason4307

Jeff, great post!
http://jabarrett.wordpress.com/ James Barrett

This is a great piece. Now the terrible unintended consequences of FAS 157 are going to wreak havoc in the VC industry. Just what the country needs- the main source of financing for our best growth companies hammered by an obscure accounting rule that no one understands. As bad as this is for VC, though, it will not compare to the destruction it has caused in the banking business. I've become so fed up with it that I blogged about it (never thought I would do that).
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