Quick: Synonym for “Other-than-Temporary?”

Want to get rid of something? Change — or obscure — its name.

So, it’s no longer swine flu, it’s an acronym.

In finance, all the toxic loans still on too-big-to-fail bank balance sheets are not “toxic loans” — suddenly, they’re “legacy assets.”

And how are those to be valued?

According to FASB, by applying new, so-called “other-than-temporary impairment” (OTTI) rules.

English actually has a word for “other-than-temporary”: it’s called ‘permanent.’

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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