Proponents of Mark-to-Market
Don't Blame Mark-to-Market for Banks' Problems: Jonathan Weil
Myth No. 1: The rules known as Financial Accounting Standard No. 157 are to blame.
Joint Statement of the Center For Audit Quality, The Council of Institutional Investors and the CFA Institute opposing suspension of mark-to-market accounting
Center For Audit Quality
Suspending fair value accounting during these challenging economic times would deprive investors of critical financial information when it is needed most.
Mark-to-Market Isn’t to Blame
Blaming fair-value accounting for banking misadventures is like criticizing the newspaper for reporting a murder.
Financial Accounting Foundation
In a letter to Barney Frank, chairman of the House Financial Services Committee, FAF Chairman Robert Denham said, “Effective accounting standards are only achieved when the standard-setting process is independent and free of undue political influence.”
In Defense of Mark-to-Market Accounting
Poor mark-to-market accounting. Lots of politicians, policy analysts and pundits are blaming it for our financial meltdown. To rescind the rule entirely makes no sense, and leaves open a path back to Enron-style accounting.