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In response to
"From the Economist's editorial on Goldman's profits: "We...are finding legitimate ways to make a profit now." -- (link)"
by
Mop (235 lbs)
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well, they did bully the government into bullying the accounting industry to backpedal on a reporting rule that required them to "mark to market" all
Posted by
tRuMaN (aka Truman)
Jul 17 '09, 12:18
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investment they were holding.
which is where all the perviously disclosed losses on securities related to mortgages came from.
now, they dont have to do that adjustment for the financials, they just get to state in the report that there could be changes in the future.
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