Mark-To-Market: The Last Desperate Fix

Accountants Discussing Principals

Accountants Discussing Principals

A House Financial Services subcommittee has scheduled hearings for next Thursday to consider changes to mark-to-market accounting.

A report from Reuters is somewhat vague but suggests that changes might be afoot. The usual suspects have been besieging the committee with letters in support of relaxing the rules.

What difference does this really make? No one with a neuron firing in their brains believes bank accounting regardless of the regime employed. It’s obvious by now that they are sitting on black boxes the codes to which management can’t even decipher.

Go ahead and fire your last bullets. The reality is that the credibility corpse is ice cold so you can’t destroy anything now.

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