At first glance, it would seem hard to make the case that bank accounting rules should be viewed as something to keep us awake at night. The remake of The Exorcist, perhaps, but not bank accounting.
Yet the American Institute of Certified Public Accountants has proposed a rule that should scare all of us. If adopted, this proposal could genuinely unhinge the safety bumpers from our financial services system. It would make banking organizations much more subject to volatility, if not outright failure, when the next recession hits, as it inevitably will.