Los Angeles Times (September 28)
“It was so hot Monday in downtown Los Angeles that the thermometer broke—literally.” Los Angeles hit 113 degrees at 12:15 p.m. on Monday. Then at 1:00, the official thermometer stopped working. (It has since been repaired). Los Angeles is just one of a string of cities and regions worldwide that have set record highs during 2010.
Tags: Heat, Los Angeles, Record, Temperature
Forbes (September 27)
Steve Forbes writes that the resignation of Robert Herz as chairman of the Financial Accounting Standards Board (FASB) is “good news for investors and the economy.” Forbes blames Herz for requiring banks and insurance companies to use mark-to-market accounting. The 2007 FASB decision “unnecessarily destroyed some $500 billion in regulatory capital of these institutions in 2008–09, thereby triggering the financial panic.”
Tags: FASB, Mark-to-market, Robert Herz
