9/29/2010

Lawrence Smith, a member of the Financial Accounting Standards Board, said rule makers could be persuaded to modify their plan to expand fair-value accounting rules, an effort that has faced strong opposition. Smith said comment letters are overwhelmingly against the proposal, which would require financial assets to be valued based on mark-to-market standards. "If I were a betting person, I would bet on some type of hybrid model being adopted," he said.

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