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Let's give companies a choice - per assets class they choose M2M or Mark to Fantasy.
Oct 02 18:19 pm
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All Comments by Ice »Why Mark to Market? [View article]
Just one rull;
market to fantasy assets need to be specified to line level on the balance sheet.
Management can in the side letter explain why those assets bear a high value than the current market price tells them. We investor can go through the line items and make our own assessment.
Accounting firm sign off on the accurateness of the descripition of the line items - not on the Mark to Fantasy value.
Problem solved for the investors and for credit market.
Problem remains for the regular to determine solvency levels of banks. I agree with that - but at least we solved the issue for the first two domains.