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GAAP rule for booking operating leases finally in place πŸ”—
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A critical piece of the vulture capital scam now is basically prohibited. It will be hard to use leasebacks to strip mine assets while pretending everything is rosy at the debt zombie company. Presumably the goobers from Goldman will probably go 360 head spinning Paulson style once the shit hits the fan and cause this rule to get rolled back.
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