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Expert Analyses of the following article:

SEC's Atkins Calls for Fair-Value Guidance

Source: www.cfo.com
May 5, 2008
Electro-shocking a corpse
Author: GLG Expert Contributor
1. Something is clearly worth nothing when nobody wants to buy it, e.g., Bear Stearns price went from $58/share to zero. 2. Option pricing theory tells us that the equity in a firm functions as a long-term option. Clearly, Bear Sterns "American-style equity option" was clearly out-of-the-money. 3. However, without Bear Stearns the whole financial system could possibly unravel and the Fed leaned on...
Robert McCabeApril 28, 2008
Could something be clearly worth zero?
Author: Robert McCabe, Ph.D., CPA, CFE, Partner, McCabe & Associates, PhDs
How can an SEC Commissioner who is obviously not familiar with Fair Value estimates call for changing the existing guidance? The value of something is zero if that is what you can buy and sell it for.    

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