Blaming the market turmoil on FAS 157
What a blast from the past. FASB is finally issuing new guidance about market-to-market accounting rules after much finger pointing from both the Congress and the Wall St wonks. Almost a year ago, there was a big furor by Blackstone’s Schwartzman about the potential dangers of FAS 157 and the blogosphere debated about it pretty […]
The only way to save GM
Today I had a chance to skim through the restructuring plans presented by GM and Chrysler to Congress (GM Plan, Chrysler Plan). GM’s situation is much alike Citi’s; both are too big to fail, both have a lot of toxic assets on their books, and both have a far reaching ripple effect on the global […]
The corporate governance program
I recently had a chance to attend a talk by Dennis Johnson, who is the Director of the Corporate Governance program at Calpers. Some of the points I garnered from his talk….. Small Portfolio, Big Returns The CG portfolio in Calpers is only $12B, which is only a twentieth of their total portfolio; despite its […]