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INSIDER: Standish Mellon Asset Management's David DeBiase and Paul Escobar	By Erika Morphy

Two weeks ago, when the US Financial Accounting Standards Board suspended part of its controversial guidance as to how institutional investors should mark down the value of a bond holding affected by interest rate rises, the financial community breathed a sign of relief—and disbelief as well. FASB rarely executes such about-faces, especially after it has issued a guidance, in this case EITF03-1. Here's what two insiders have to say about the reversal.

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