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Discussion in 'Economics and Financials' started by joeydolfan, Oct 9, 2008.
Former FDIC Chair Blames SEC for Credit Crunch - Financials * US * News * Story - CNBC.com
I wish I could say that it's one persons or one entities fault but the problem is so much more far reaching than just mark-to-market. There is plenty of blame to go around including the Fed, the SEC and the consumer.
That said, I'll be damned to understand why they haven't eliminated mark-to-market by now. It's befuddling.
I can understand where he is coming from and to be honest, even if the SEC re moves the mark to market rule right now I dont know if it would matter. Everyone knows the toxic assets are there on their books.
I agree with you though, lots and lots of blame to go around on this one.