Comments on: Even FASB thinks FAS 157 is Stupid http://www.jasonmendelson.com/wp/archives/2009/04/even-fasb-thinks-fas-157-is-stupid.php Just another WordPress weblog Mon, 15 Mar 2010 01:37:20 +0000 http://wordpress.org/?v=2.9 hourly 1 By: Search Engine India http://www.jasonmendelson.com/wp/archives/2009/04/even-fasb-thinks-fas-157-is-stupid.php/comment-page-1#comment-391298 Search Engine India Sat, 02 Jan 2010 15:58:18 +0000 http://www.jasonmendelson.com/wp/archives/2009/04/even-fasb-thinks-fas-157-is-stupid.php#comment-391298 You know one thing, if you ask me a logical question, I see a lot of people or agencies, whatever you call it, thinks others are stupid and they are more intelligent. This is basic human nature..! You know one thing, if you ask me a logical question, I see a lot of people or agencies, whatever you call it, thinks others are stupid and they are more intelligent. This is basic human nature..!

]]> By: Jason Mendelson http://www.jasonmendelson.com/wp/archives/2009/04/even-fasb-thinks-fas-157-is-stupid.php/comment-page-1#comment-2359 Jason Mendelson Sat, 04 Apr 2009 01:10:41 +0000 http://www.jasonmendelson.com/wp/archives/2009/04/even-fasb-thinks-fas-157-is-stupid.php#comment-2359 I won't pretend to understand entirely if it's better or worse for the banks. I think that some discretion is important in valuing non-public assets. I can say without a doubt this is a major win for private equity and venture capital. I won't pretend to understand entirely if it's better or worse for the banks. I think that some discretion is important in valuing non-public assets. I can say without a doubt this is a major win for private equity and venture capital.

]]> By: mr spot http://www.jasonmendelson.com/wp/archives/2009/04/even-fasb-thinks-fas-157-is-stupid.php/comment-page-1#comment-2344 mr spot Fri, 03 Apr 2009 19:53:32 +0000 http://www.jasonmendelson.com/wp/archives/2009/04/even-fasb-thinks-fas-157-is-stupid.php#comment-2344 i have to agree w/don. bottom line, the issue is that one size/rule will not fill all from VC to banks but this does seems like a bit fat sellout on the part of the FASB. I can't wait to see the spin the banks put on Q.091 (go early adoption!) results - and here i though that the auto makers jubuliant cries of "we were only down 36% in March (note no mention of the bottom line there)!" was good! i have to agree w/don. bottom line, the issue is that one size/rule will not fill all from VC to banks but this does seems like a bit fat sellout on the part of the FASB. I can't wait to see the spin the banks put on Q.091 (go early adoption!) results – and here i though that the auto makers jubuliant cries of "we were only down 36% in March (note no mention of the bottom line there)!" was good!

]]> By: DonRyan http://www.jasonmendelson.com/wp/archives/2009/04/even-fasb-thinks-fas-157-is-stupid.php/comment-page-1#comment-2331 DonRyan Fri, 03 Apr 2009 14:48:48 +0000 http://www.jasonmendelson.com/wp/archives/2009/04/even-fasb-thinks-fas-157-is-stupid.php#comment-2331 For long term holders of illiquid assets (like VC firms), the change is probably a good thing. After all, how do you value something no one else (or very few others) are doing. It's like trying to put a price tag on innovation (which is kind of what a term sheet is but I digress). My main concern with this change is that banks will mark up garbage CDOs and such to fantasy levels so as to not trash their balance sheets. I just don't trust bankers to do the right thing. To me, it's more of the same stuff that got us into this mess to start with and, by changing FAS 157, we've said to the bankers that it's okay to put the best face on the crap you're holding. I'm not in favor of the change. For long term holders of illiquid assets (like VC firms), the change is probably a good thing. After all, how do you value something no one else (or very few others) are doing. It's like trying to put a price tag on innovation (which is kind of what a term sheet is but I digress). My main concern with this change is that banks will mark up garbage CDOs and such to fantasy levels so as to not trash their balance sheets. I just don't trust bankers to do the right thing. To me, it's more of the same stuff that got us into this mess to start with and, by changing FAS 157, we've said to the bankers that it's okay to put the best face on the crap you're holding. I'm not in favor of the change.

]]> By: Jason Mendelson http://www.jasonmendelson.com/wp/archives/2009/04/even-fasb-thinks-fas-157-is-stupid.php/comment-page-1#comment-2329 Jason Mendelson Fri, 03 Apr 2009 13:39:06 +0000 http://www.jasonmendelson.com/wp/archives/2009/04/even-fasb-thinks-fas-157-is-stupid.php#comment-2329 Please see original post<br /><br /><a href="http://www.jasonmendelson.com/wp/archives/2009/01/why-fas-157-is-stupid.php<br" target="_blank">http://www.jasonmendelson.com/wp/archives/2009/01...</a> /><br /> Please see original post

http://www.jasonmendelson.com/wp/archives/2009/01... />

]]> By: John Fontana http://www.jasonmendelson.com/wp/archives/2009/04/even-fasb-thinks-fas-157-is-stupid.php/comment-page-1#comment-2328 John Fontana Fri, 03 Apr 2009 13:06:20 +0000 http://www.jasonmendelson.com/wp/archives/2009/04/even-fasb-thinks-fas-157-is-stupid.php#comment-2328 Sorry, but what is FAS 157 about? Sorry, but what is FAS 157 about?

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