re: #365 Wishing

CNN had on earlier someone who was a retired economist (with the FDIC), and he claimed that it was all due to “Mark to market accounting” — and that this law came into effect back in 1997 — and has resulted in the current crisis — they had a similar accounting thingy back in the 1930s — and the retired FDIC fellow claimed that what’s needed is to repeal, get rid of, Mark to Market accounting. (frankly, I’m clueless with respect to “Mark to Market” accounting.) Wiki article here.