Comments on: RIP Mark-to-Market http://dougist.com/2009/04/rip-mark-to-market/ Douglas Barone Sat, 31 Dec 2011 03:58:19 +0000 hourly 1 By: Doug http://dougist.com/2009/04/rip-mark-to-market/comment-page-1/#comment-330 Doug Fri, 03 Apr 2009 12:49:27 +0000 http://dougist.com/?p=217#comment-330 <p>Before you all flame me, Yes I know that MtM was modified by FASB, an independent standards group. But (again you will not see this in the Times) you’ll find that independent boards are remarkably malleable, especially under international negotiations of their host nations. And I also know that MtM modification was some time in coming. All items that come out of meetings like the G-20 have footprints. No one in the Financial Services Industry thought MtM was a good idea (except,the accounting consultants who billed extra time to implement it) and lobbying for it’s repeal has been going on for years.</p> <p>Doug</p> Before you all flame me, Yes I know that MtM was modified by FASB, an independent standards group. But (again you will not see this in the Times) you’ll find that independent boards are remarkably malleable, especially under international negotiations of their host nations. And I also know that MtM modification was some time in coming. All items that come out of meetings like the G-20 have footprints. No one in the Financial Services Industry thought MtM was a good idea (except,the accounting consultants who billed extra time to implement it) and lobbying for it’s repeal has been going on for years.

Doug

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