Cox, Geithner Tell Congress ...

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By Edith Orenstein, FEI Financial Reporting Blog - Accounting issues were among topics addressed to and by SEC Chairman Christopher Cox and New York Fed President Timothy Geithner at the House Financial Services hearing yesterday (July 24) on Systemic Risk and the Financial Markets. Cox indicated ‘real-time’ guidance is coming on fair value accounting in inactive markets, and Geithner said he expects additional recommendations of a working group on over-the-counter derivatives soon. Congressman Paul Kanjorski noted he has requested that GAO conduct a study of Structured Finance Products. Read more here.

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