For the record, neither I nor anyone else on CFO's staff wrote this phony blog, ostensibly by Blackstone's Stephen Schwarzman, called Why FAS 157 is Worse than Al Qaeda.
But we did laugh ourselves silly over it.
The ersatz-Schwarzman's take on FASB? "They are among the most useless people on the planet and they are standing in the way of patriotic American commerce. Imagine the lamest Star Trek-watching nerds hell-bent on punishing the successful and cool kids with their nitpicky rules." (Hmm. Maybe he did really write this.)
Be sure to check out "Schwarzman's" proposed "SAS 69" solution, too.
See full Article.
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