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  "huge gains from the second quarter" NOT likely under US accounting
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jan.di...@gmail.com  
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 More options May 12 2008, 2:11 am
From: jan.di...@gmail.com
Date: Sun, 11 May 2008 23:11:07 -0700 (PDT)
Local: Mon, May 12 2008 2:11 am
Subject: "huge gains from the second quarter" NOT likely under US accounting
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some says AIG could report "huge" gains from the second quarter
because of a rally in credit markets.

AIG had to mark down losses under US accounting principles.  US
accounting policies does not allow marking up gains that were marked
down, even if there were a rally in credit markets since the end of
March.


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rf2...@gmail.com  
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 More options May 14 2008, 2:48 am
From: rf2...@gmail.com
Date: Tue, 13 May 2008 23:48:16 -0700 (PDT)
Local: Wed, May 14 2008 2:48 am
Subject: Re: "huge gains from the second quarter" NOT likely under US accounting
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You can always sell it in the market and realize the gain (from the
already written down prices of course).

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jjb...@gmail.com  
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 More options May 14 2008, 3:28 pm
From: jjb...@gmail.com
Date: Wed, 14 May 2008 12:28:08 -0700 (PDT)
Local: Wed, May 14 2008 3:28 pm
Subject: Re: "huge gains from the second quarter" NOT likely under US accounting
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......."some says AIG could report "huge" gains "

Who are the 'Some' you speak of ?


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jvbulli...@gmail.com  
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 More options May 14 2008, 11:13 pm
From: jvbulli...@gmail.com
Date: Wed, 14 May 2008 20:13:09 -0700 (PDT)
Local: Wed, May 14 2008 11:13 pm
Subject: Re: "huge gains from the second quarter" NOT likely under US accounting
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Under US accounting principles it is mandatory for financial companies
to mark to market on these derivatives whether it is a loss or gain
and for insurance companies it should not be an extraodinary item on
the income statement

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jan.di...@gmail.com  
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 More options May 15 2008, 12:52 am
From: jan.di...@gmail.com
Date: Wed, 14 May 2008 21:52:59 -0700 (PDT)
Local: Thurs, May 15 2008 12:52 am
Subject: Re: "huge gains from the second quarter" NOT likely under US accounting
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AIG did NOT mark-to-market credit default swaps.  AIG's management
choose not to mark-to-market.  if they had mark-to-market, losses
could be recovered when credit market becomes better.

because AIG did not mark-to-market credit default swaps, it had to
write down when there was a huge losses under US accounting.  Under US
accounting, once you write-down, you cannot write-up.   that's the
difference between mark-to-market v. writen-down.  It was management's
choice.

btw, it was an article from a non-accountant.


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