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April 18, 2011


Independent Accountant

I'm so old I remember when SFAS 15 came out. I read it and concluded the FASB did not understand discounted cash flow analysis and that SFAS 15 was an economic joke.



Hi Tom,
Don't know how you do it... just reviewed and I've purchased 9 new cars in 11 years (1 was totaled, so had to replace) for my wife and I.
Bought a new camaro two weeks ago... I now wax cars, havent in 20 yrs...
I'm good for the economy i suppose.


TDR accounting was, and still is today, a misguided and biased attempt to obtain a political result by deliberately distorting the process by which loans should be measured and reported.

I think you are getting it right.

Benjamin Skinner

Yet another problem stemming for debt.

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