Fair Value Accounting

Fair Value?
I have always felt that the arguments for failing to carry assets at fair value are weak. (See "Fair-Value-Accounting : What's in Store?" June Update)
The supposed inability to value liabilities on an appropriate basis and the reliance on the long-term nature of these liabilities to justify the ignorance of current market conditions have led to confusing balance sheets and increased the tendency to overlook very real short-term financial concerns.
The solution may not be easy, but one must be found .
- An appropriate solution should incorporate the following characteristics: (p3)

-- Lee A . Zinzow

1992 08 - The Actuarial Update - 8p

Bob. We should discuss tomorrow if you are available. This is clearly inconsistent with what Martin told the Board, and "inconsistent" is a kind characterization. Thanks. Mike.

AIG - Sent: 03/13/2008 07:54:04 PM

To: Robert Willumstad - From: michael sutton - CC: Martin Sullivan, Frank G Zarb

Subject: Fw: AIG Financial Times Article - Fair Value Accounting - Attachments: 3-13-08 Financial Times Article,pdf

2008 0313 – FT (Financial Times) – AIG Urges ‘Fair Value’ Rethink –

2008 0313 – email – AIG – Bob. We should discuss tomorrow if you are available. This is clearly inconsistent with what Martin told the Board, and “inconsistent” is a kind characterization. Thanks. Mike (FRBNY-TOWNS-R1-193865) – 2p

1992 06 - The Actuary - Fair Value Accounting : What's in Store?, by S . Michael McLaughlin - 8p