But the Financial Accounting Standards Board has been lobbying to underline its independence as a private-sector body. The FASBs parent this spring hired K&L Gates, a big law and lobbying firm. Officials of the parent, the Financial Accounting Foundation, and the firm met last month with key lawmakers.
The foundation spent $120,000 in 2008 and $40,000 in the first quarter of this year on outside lobbyists, which also included Morrison Public Affairs Group, according to reports filed with the House clerks office. By contrast, the accounting foundation reported no outside lobbying expenditures from 2003 through 2007.
Robert Herz, who has been FASB - - - - >

Thats because the results that matter, the ones that will determine whether San Francisco-based Wells Fargo and 18 other U.S. banks need more government cash, wont be revealed until the end of April, when the Obama administrations stress tests are completed. Treasury Secretary Timothy Geithner has said he expects some lenders will require “large” amounts of capital, and that could take the bloom off any rosy first-quarter report.
“There will be a pregnant pause until the outcome of the stress test is known,” said Dino Kos, a - - - - >