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Changes in Fair Value
by Brian S. Wesbury, Chief Economist
First Trust Advisors, LP
Until a few weeks ago, our elected leaders and a significant, although shrinking,
number of financial market professionals were fighting strenuously against any alteration
of mark-to-market accounting rules. There was a real stubbornness about this topic.
The untouchable nature of these accounting rules may have been most clearly stated
by Congressman Barney Frank on CNBC the morning of February 11. “You certainly don’t
want Congress legislating accounting [rules],” he argued. Amazingly, no one asked:
Why? More >
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Marginal Cost of Advances vs. Deposits under the FDIC's New Insurance Assessment Schedule
by John P. Biestman CFA
On February 27, 2009, the FDIC announced its amended plan for restoring funding
levels for the Deposit Insurance Fund. Part-and-parcel to the announcement
of a proposed special assessment of 10 to 20 basis points on deposits and promulgated
changes to the risk-based assessment system, the FDIC also announced supplemental
rates on insured institutions that employ secured liabilities beyond a certain threshold.
More >
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