pgstocks

Securities and Exchange Commission and Mark to Market Changes

Fasb 157 is a well intentioned disaster. The general public thinks it sounds like a good idea, however what could they get for their house or car in the time span of a day or a few hours. Would they accept mortgages being called or car loans called due or would they cry foul as 3 months for a house to sell or a few weeks for a car selling would bring many times the value found in a few hours. Without liquid markets there is no point in marking things down to absurd values and destroy our economy. True values for assets is what we all want. We need to suspend and rework FASB 157 to be workable, reasonable and realistic.