From the article - Bernanke wants to “improve” the Mark To Market Rule, rather than kill it.
Everybody marks to market. It’s reality and it’s also the responsible and ethical thing to do.
To not have to mark to market is simply fraud. Which is why the Democrats want to do away with the rule.
No mark to market? Who knows what a portfolio is worth? Nothing to see here, move on.
Steve Forbes, not a Dem in any way, shape or form, has been advocating abolishing the mark to market for some time. He has said that if this was around during the S&L Crisis, everything would have collapsed.
While I can understand it to some extent, not everything can be ‘marked’ accurately.