New Rules May Force Banks to Acknowledge Losses

Courtesy Digg - Business & Finance  Fri, 11/06/2009 - 18:10

A controversial change in accounting rules this year has allowed banks to claim billions of dollars in additional earnings simply by tweaking their bookkeeping, greatly enhancing the appearance that the industry is returning to health.

But accounting rule makers are considering further changes that could drain the blood right out of the industry.

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