[Rhodes22-list] Accounting

[TN Rhodey]

"A sharp CPA could design a believable computer
model that could make the value come out wherever his boss wanted it
to be. He could also convince outside auditors and regulators of the
soundness of his model. "

Brad, I am with you but wondering how they determine new (long term) value
for this big pile of crap?  One thing the article mentions that often gets
lost. Most people are paying their mortgages. The properties that are
bundled in these securities are not worthless. At some point they all will
be worth something to somebody.... but when?

Are there computer models that accountants trust? Not poking a stick I have
no idea. I can see how it would ease credit. I also see how it led to past
problems.

 I thought we were rushing into the bail out. I am all for any plain that
reduces government intervention.

Wally