Only Cautious Optimism from Mark-to-Market Rule Changes
April 9, 2009 – Media Mention
Changes to mark-to-market rules of the Financial Accounting Standards Board (FASB) will loosen liquidity and credit somewhat -- but hardly absolutely -- in multi-family projects, Neil Shapiro says. "It solves some problems, but it doesn't change banks overnight from having zero liquidity to being cash-rich. This brings things from the brink of insolvency back towards the middle where things are merely OK," he says.