I originally posted this story in April to coincide with the vote on FASB 157. In light of these recent developments, it's another good time to pick up the phone and let the FASB know that you support transparency, sunshine and truth in all matters, but especially those relating to fair-value accounting.
They are trying boldly to stand firm against the monolithic banking lobby and Congress. Let them know you support their new stance as explained recently by Bloomberg's Jonathon Weil.
Most importantly, contact your Congressional representatives and ask them NOT to support this bizarre and frightening piece of legislation.
The vote on mark-to-market accounting (FASB 157) is tomorrow.
Let's have some fun and call the FASB today. We might as well put up a fight and let them know some of the sheeple are awake. They have likely never received more than 25 calls in a day from taxpayers.
Let's see how they feel about 1,000 calls.
Here is the shortened URL for this post. Email it to folks on your email address list. Post the URL whereever you hang out online.
The FASB is based in Norwalk, Ct.
Email: director@fasb.org
Phone number: 203-847-0700
Their vote on modifications (gutting) of FASB 157 occurs Thursday. Call them and show them some support. They have tried mightily to withstand pressure, but certain Congressional members beholden to the financial services lobby have been exerting extreme pressure.
Tell them you support transparency and honesty and the new modifications to FASB 157 are a dangerous precedent for market integrity.
Tell them to vote 'NO' on the modifications.
Please help by emailing this story to a few friends. Promoting greater awareness is our only chance at stopping the heist. Sending just 2 emails can make a tremendous difference. Thank you!