Simon Quoted on "Journaling Over" Assets

02 February 2009 Dow Jones Newswire News

Foley Partner and chair of the Securities, Commodities & Exchange Regulation Practice George Simon was quoted in a Dow Jones Newswire article titled “IN THE MONEY: Bad Or Not, Bank Consolidator Needed” on February 2, 2009. Simon provides his insight into the Treasury Department’s proposed practice of using “bad banks” to purchase debt, identify and isolate losses and work them out over time. Simon notes that “journaling over,” or moving assets from one bank to another without fully pricing the loss, would compromise a solution by delaying revaluation.

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