“ FASB’s “mark-to-market” accounting rules helped drive AIG and Bear Stearns into bankruptcy, even though they were cash-positive.
Washington Is Killing Silicon Valley - WSJ.com
The WSJ used to be a good paper, now it seems to be really trashy. Blaming accounting rules on the failure of AIG and Bear Stearns? Laughable.
Even worse, the thing they should be reporting is how laws like the DMCA stifle entrepeneurs at the behest of RIAA and MPAA lobbying.
