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re: "Mark To Make Believe"
Posted on 3/5/09 at 6:02 am to Colonel Hapablap
Posted on 3/5/09 at 6:02 am to Colonel Hapablap
quote:How so? Banks were held to those rules the last three years.
If banks had been held to those rules for the last 3 years, we wouldn't be where we are now.
This post was edited on 3/5/09 at 6:10 am
Posted on 3/5/09 at 7:45 am to LSURussian
No, they were allowed to have level 3 assets and mark them to a model. They SHOULD have been marking them to market every day and posting collateral as necessary. They would have been hurt much worse early on, but they'd have been forced to sell their shite paper before things really got bad.
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