I am seeing articles about how marking positions to market is contributing to the recession and how it should be stopped or amended almost daily in the financial press. But this is dangerous thinking, because if you cannot mark to market, then how did you manage to value it in the first place and if you did, who was the idiot who bought it without having the ability to value it on a mark to market basis? Because that is what it means. The value of transparency and mark to market goes way beyond some badly priced instruments. Mark to market provides one of the foundations of western civilisation. How so?
Continued on at:
http://piquancy.
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Bhaskar Dasgupta
http://dailysalty.
http://piquancy.
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