GAAP

  • I want to think that Iksil has a sense of humor about the whole thing and has this poster hanging in his living room. Though I guess it'll be funnier once any legal liability is behind him.

    News

    No One Wanted To Tell The London Whale He Was Looking A Little Bloated

    Here’s a good Sonic Charmer post about how JPMorgan could have prevented the London Whale loss by imposing a liquidity provision on the Whale’s desk: Liquidity provision means: ‘the more illiquid the stuff you’re trading, the more rainy-day buffer we’re going to withhold from your P&L’. And since one way a thing becomes illiquid is […]

    / Mar 28, 2013 at 5:58 PM
  • This has really nothing to do with Bob Diamond but whatever.

    News

    U.S. Banks Would Look Scarier If They Were European Banks

    This Bloomberg article about accounting differences between the US and Europe for derivative-y things comes down pretty squarely on the side of Europe, which is to be expected: European (well, IFRS) standards tend to gross up the size of bank balance sheets, compared to US GAAP standards. Grossing up bank balance sheets makes for bigger […]

    / Feb 20, 2013 at 2:01 PM

Our Sites

  • Above the Law
  • How Appealing
  • ATL Redline
  • Breaking Defense
  • Breaking Energy
  • Breaking Gov
  • Dealbreaker
  • Fashonista
  •