What do you make of the provisions (draft bailout bill 132, 133) authorizing the SEC to suspend mark-to-market (MTM)?
Do you think they will exercise this authority? What’s the buzz on the Street? Would suspension just create more confusion and uncertainty?
Also, a study of mtm should prove interesting. Even the mere call for the study would seem to provide justification for giving less weight to market inputs in determining fair value. I expect a slew of guidance from the auditing profession and the SEC.
- Frank DeRose
