H&S

It's the Capital, Not Liquidity, Stupid

Whatever it is they better get it right quick before the economy goes into paralysis!!!!
A very quick fix could be to suspend the "Mark-to-Market' rule. This is a siily rule that has no scientific basis for its implementation as the crystal-ball of markets has never been found or defined-especially not by the green eye-shade folks!!!!!

Global Capital Asset Death Spiral

The FASB and the well-meaning but not so bright accountants behind it are the ones to blame for mark-to-market as well as allowing the financial crisis we are experiencing.They are the ones who represented to the stockholders as little as one year ago that the assets of many of these financial companies were not impaired when if had they understood NINJA and Derivatives they would have warned otherwise.
Only aggressive prosecution of corporate executives who misrepresent or defraud will ever create transparency in markets. If we depend on the CPA's to find the needle in the haystack, there will be no hay left before they are accidentally pinched by the needle!!!!!