BUSINESS
09/14/2010 05:12 am ET Updated May 25, 2011

'Stealth Bankers Bomb As Anti-Reform Crusaders': Bloomberg

Last week Bloomberg News reported that the American Bankers Association had started a campaign to mobilize investors against an accounting-rule proposal that would force lenders to write down their assets by billions of dollars.

The ABA sent e-mails to at least 15,000 people, along with a link to a page on its website, titled "Guidance for Investors Regarding FASB's Mark to Market Proposal." The goal was to flood the Financial Accounting Standards Board with letters from investors complaining about its plan to make lenders show the fair-market values of their loans on their balance sheets, which is something they don't have to do now.

Read more on washpost.bloomberg.com