normthefedup

How to End the Credit Crisis

All good points and well presented, author. I've been a proponent (and made my opinion known to everyone I THOUGHT was a listener and decisionmaker) of changing the mark to market rules since I perceived this "crash" coming. At least as I see it, it would have dramatically altered the bank writedowns and PERCEPTION of the problem we're in. Granted, this is bad, but, as they say, perception is reality and I'm convinced that changes in the rules and consequently, the perception of how bad this really is, would have mitigated some of the damage early on and possibly saved us the radical fall that we've taken. Monday morning quarterbacking, I know. Good luck to all of us and a good piece, author.