I Amend on "Extend and Pretend"

I've earlier argued that "extend and pretend" was just bureaucratic inertia--banks or bankers who knew perfectly well the game was up  but who didn't have the conviction or the power to face facts.  Tracy Alloway persuades me that I spoke out of ignorance--Alloway presents a very good reason for extend and pretend, rooted in the obscure purlieus of accounting rules.   Sounds right, shoulda guessed.