[TeleStraightShooter]

When Market to Market Rule FAS 157 was implemented in Nov 2007 the Dow was around 14,000...

I'm with Steve Forbes on this issue, its about damn time they at least try to fix that Charlie Foxtrot they created!

[TeleStraightShooter]

Lets try that link again...

Market to Market Rule FAS 157

[BGHater]

Awesome. Banks get to cook their books even more. Great news.

Screw the ‘market’ value.

[Steamburg]

Goodness, had mark to market not been instituted, we would not be in this confusing mess. But, then again, Barney, Chris and their buds would still be looting that piggy bank.
Sadly, they have just moved to the trough of the Treasury.

[KarlInOhio]

So now the bank can claim that a third mortgage on a house that is already a quarter million dollars under water on the first two mortgages is worth its listed value. Anything other than mark-to-market is just begging for the banks to start lying again about their assets' valuations again.

At most the banks should be allowed to make estimates based on current cash flow which they can report in addition to the official mark-to-market valuation. Then investors could decide which they believe.

Blaming mark-to-market for the banks' problems during the real estate collapse is like blaming the x-ray for your arthritis.

[aculeus]

Next thing they should do (but wont) is cancel that stock option crapola.

Options in scores of companies are now worthless yet the companies P&L and balance sheets were diminished by the “real” value of paper.

Thank you Warren Buffett.

[org.whodat]

Yes, support fraud values, it will do wonders for truth in accounting, Hell Madoff, could still be in business!!