Yesterday (Thursday, March 11) I testified on mark to market accounting before the House Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, a Subcommittee of the Committee on Financial Services.

Here is a copy of my testimony.

During the hearing, Representative Spencer Bachus, Ranking Member of the parent Committee recommended my blog post, "My Mark-to-Market Nightmare," to the other subcommittee members and later asked that it be entered into the record. Here is a link to "My Nightmare."

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2 Responses to “Vetting Mark to Market”

  1. Remarks made in Hong Kong on U.S. Financial Crisis | Economic Policy | Bob McTeer | NCPA Says:

    [...] Vetting Mark to Market [...]

  2. Paulson on Mark to Market Accounting | Economic Policy | Bob McTeer | NCPA Says:

    [...] Those of us who wrote about and testified on the issue last year, including former FDIC Chairman Bill Isaac, were careful to distinguish between commercial banks and trading financial institutions. In fact, we conceded that, even at commercial banks, securities held for trading or subject to trading should be marked accordingly. [...]

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