A Quiet Exit from Fair Value Accounting?
Why is it government bureaucrats and politicians seem to find it much easier to sign checks for trillions of dollars than changing a few accountancy regulations? This mystery has puzzled us ever since the start of the financial crisis. The obvious answer is that signing trillion-dollar checks involves other people's money, while reversing regulatory decisions impinges on the policymakers own professional pride. But now that they've watched the lynching of bankers andpoliticians, the bureaucrats in Washington seem suddenly to have changed their minds. If Paris was worth a Mass for Henry IV, who had to display his Catholicism to become King of France, then maybe avoiding another trillion dollar bailout request from Congress was worth a little embarrassment for the regulators and accountants.
Non Profit News Profile: James' Stoker - July 2008
An extensive manager research focus and absolute return philosophy makes WaterStreet Investment Consultants a unique advisor to the institutional space. Working with over 40 institutional investors, including foundations and endowments, the firm understands the importance of absolute return versus relative return, particularly for nonprofits that are required to make an annual 5% payout.