old short Bob

Why Mark to Market?

The assets had to be evaluated quarterly and an allowance provided if the value decreased. the allowance was the problem if it had to be barrowed in a tight market and this was what drove them out of business. The government is willing to take these assets and keep them without M2M indefently. Well let them stay with the banks on the same basis and the problem is over. There will be writedowns as they become worthless for the banks and not us taxpayers.