Huffington Calls Suspension of Mark-to-Market Accounting 'Absolutely Tragic'

Huffington Post editor-in-chief Arianna Huffington appeared on ABC's April 5 "This Week," where she voiced her disapproval of the March 30 decision by the Financial Accounting Standards Board (FASB) relaxing mark-to-market accounting rules.

"This week, we saw so many concessions to the banks," Huffington said. "We saw the suspension of mark-to-market, which is absolutely tragic. Japan, by not having mark-to-market, made it much harder for them to recover."

Funny, Brian Wesbury and Robert Stein of First Trust Portfolios recently wrote for Forbes magazine, mark-to-market accounting reinstitution was reinstated only in recent years. The last time it was in effect - during the Great Depression - it caused many bank failures...

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