| 09.03.2009 Other Voices: How can we mark-to-market when there is no market? `Let`s call the loans` and other aberrations |
| This is an excerpt from Bedrock Group’s latest newsletter: ...We feel like expanding our witch-hunt of last week; We had pointed our finger at Basel (II) and now point it at the accounting rules- FASB115 in particular, the one that sets the rules for mark-to-market. Whilst written in good faith in what had been reasonably good and stable times, it simply wrecks havoc in times such as the |