zondag 26 april 2009

Newspeak van de banken: verlies is winst

Paul Krugman schrijft:

So the accounting rules say that a decline in the market value of a bank’s debt thanks to increased credit default swap spreads — that is, because investors think you’re more likely to fail — counts as a a profit. On the other hand, if your bank looks stronger, the spreads fall, and you book a loss.

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