Subprime Lenders and an FASB Rule
WASHINGTON (HedgeWorld.com) - July 27, 2007
By Christopher Faille, Senior Financial Correspondent

EXCERPT

Ms. Tavakoli said she was unconcerned about the possibility that uncertainties in the meaning of FAS 140 could do any harm to the credit default swaps market. "If you want to write a CDS to define a default broadly to include loan modifications [and pre-agreed settlement amounts], you can write it that way," she said.

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