Disclosure, Not Destruction - Recent Development of Mark to Market Accounting

Several years ago, I noted a press release about the appointment of a new Chief Accountant at the SEC. He was a retired partner from an accounting firm where I had also been a partner. At first, I thought this was a positive development. A top-flight accountant should ensure sensible accounting policies at the top GAAP regulatory agency. The first quote I saw from the new Accountant dissuaded me from this view. Complete article at ...