As one investment bank after another falls prey to the expanding crisis in the credit and mortgage markets, accounting regulators are trying to get a handle on the mess.

The Lehman Brothers bankruptcy and the sale of Merrill Lynch to Bank of America, following on the heels of the government takeover of Fannie Mae and Freddie Mac, have given Wall Street the jitters and sent the Dow plummeting 504.48 points on Monday, only to bounce back 141.51 points on Tuesday. But investors are still worried about some other dominoes in the financial system tumbling, especially insurer AIG, which now has received an $85 billion loan from the federal government.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access