March 4th, 2010

“…commercial real estate loans should not be marked down because the collateral value has declined.  It depends on the income from the property, not the collateral value.”

— Ben Bernanke, Feb. 24, 2009, finally, if tamely, acknowledging the crucial role of mark-to-market accounting in the financial death spiral.

(via Brian Wesbury)

Tags: mark-to-market

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