1.0 link 179489 <![CDATA[New Rule Would Allow Banks To Choose Values Of Their Assets]]> http://www.huffingtonpost.com/2009/03/26/new-rule-would-allow-bank_n_179489.html The Financial Accounting Standards Board quietly buckled to banking-industry pressure last week and proposed new accounting practices that would allow banks to value assets at a higher price than they could currently be sold for.

Banks have long demanded the "mark-to-market" accounting rule change, arguing that it's unfair to require them to mark toxic assets down to current market prices because the very market for those assets is frozen.

The move marks a shift for Robert Herz, head of the...

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