MARK-TO-MARKET ACCOUNTING: Practices and Implications
March 12, 2009
When I moved to Texas in 1991, someone gave me a little book of Texas wisdom titled, "Don't Squat with Your Spurs On." Among its nuggets of wisdom was this one: "No matter who says what, if it don't make sense, don't believe it." What's been going on with mark-to-market accounting doesn't make sense to me.