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Strategies & Market Trends : Classic TA Workplace

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To: robert b furman who wrote (164095)	3/8/2008 1:47:06 PM
From: Henry J Costanzo	of 209892

Hi Bob.. As I've posted before, I think the accounting mark-to-market rules are for the birds..OK for some assets, but not for all..I tried to fight that when I was directly involved, but the "saintliness" of the accounting profession hard to overcome...It won the day....and saddled us with useless, needless...and harmful... volatility in financial statements.. Big question now is to what extent current mark downs are excessive, and will be replaced later by large mark ups...Guess nobody can say...but if past experience holds, that will likely be the case..

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