It could be a boon for the US Coffers--at least according to our favorite little regulatory body: FASB.
Just a thought:
Will the US Treasury begin booking the devaluation in US treasuries as a gain, ala Jamie Dimon's comments a few weeks ago about accounting standards (banks mark-to-market profits when their bonds fall due to buy-back costs declining)? It would surely be the finest gov't accounting scandal YTD.
Maybe M2M isn't looking so bad afterall.
1-2
Disclosure: Massively short the US in multiple forms.
agreed, but that would imply that at some point in the future yeilds would have to be higher in order to justify a decline in the buy-back cost. At what point does the yeild curve begin to shrink (better read, at what point does the govt stop allowing banks to book tremendous profits on a steep yeild curve)?
Posted by: john | May 22, 2009 at 05:57 PM
Too long; didn't read.
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I am glad it was appropriately punished. I don't work in a big agency, i am an independent, so I don't have any insight into how agencies bill, but I know how I do it, and there is no padding there, so for others to muddy that up is pretty irritating indee
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I am glad it was appropriately punished.
Posted by: office 2010 standard | July 18, 2011 at 02:52 AM
i am an independent, so I don't have any insight into how agencies bill, but I know how I do it, and there is no padding there, so for others to muddy that up is pretty irritating indee
Posted by: gesanghua | July 21, 2011 at 03:15 AM
agreed, but that would imply that at some point in the future yeilds would have to be higher in order to justify a decline in the buy-back cost. http://www.msoffice2010.us
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agreed, but that would imply that at some point in the future yeilds would have to be higher in order to justify a decline in the buy-back cost.
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