2008-10-19 — clusterstock.com
Specifics? The banks are giving the government warrants amounting to 15% of the government's preferred stock investment. Not surprisingly, these warrants have to be accounted for... People involved in the discussions say the issue will be resolved this weekend.
Banks should be careful what they wish for (really, couldn't that be the motto of this whole sorry saga?) If they get an accounting exemption, that will just make banks even harder to value, and as we've seen, the market does not like uncertainty at all.
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