By Binyamin Appelbaum: The end is nearing for an accounting trick destined to be remembered as a hallmark of the housing boom, because it allowed financial firms to conceal a vast expansion in their lending from regulators and investors.
Under this strategy, firms placed trillions of dollars in loans in the financial equivalent of self-storage facilities.
Read complete article Board to Ban Accounting Practice That Helped Lending Proliferate
Source: The Washington Post, 18 May 2009. © 2009 The Washington Post Company