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Bernard M -- Taipei English Tutor

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Saturday, December 13, 2008

Everything We Learned about the Financial Crisis, Again Tim Reason and Marie Leone FROM CFO

"At the last big accounting industry conference of 2008, Robert Herz, chairman of the Financial Accounting Standards Board, reiterated what he has been saying all year: It was not fair-value accounting that worsened the credit crisis, but rather a capital markets house of cards built on complex and risky securitization structures linked to subprime mortgages."

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