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Have you ever wondered what the truth would look like if you charted it? Well, as we all know FASB has finally decided to grow some balls and issue accounting rules that state that an instrument that is being carried underwater is actually an instrument that is being carried at a loss, in direct contravention to their "clarification" of the rules last year which was tantamount to a loss being defined by the institution taking the loss, which of course never wound up being a loss in the first place. Look below at this chart sourced from Bloomberg.com. A picture is worth a thousand words...

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