Archive for September 30th, 2008
D’Alessandro: fair market value accounting is ‘perverse”
30 September 2008This from my morning newspaper:
The same accounting rules that bank executives blame for exacerbating the financial crisis are going to make insurance more expensive for Canadians, says the chief executive officer of North America’s biggest insurer.
Dominic D’Alessandro, the long-time head of Manulife Financial Corp., delivered what he described as a sermon on fair value accounting [...]