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finally a reasoned and knowledgeable explanation about FAS 157 and why it is not the cause of the problems but rather a reflection of the underlying problem!
Mar 31 09:03 am
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All Comments by cranyinnyc »Mark-to-Market: Of Course Not at Par - That's Par for the Course [View article]
one point to add is that if you don't have match funded term financing you can't pretend to hold the asset to maturity so you must mark it to market