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11 março 2009

Oposição

Anteriormente já postamos a opinião de Forbes, da revista Forbes, sobre marcação a mercado. Ele se opõe e considera uma das causas da crise financeira. Novamente sua opinião:

(...) The most disastrous Bush policy that Mr. Obama is perpetuating is mark-to-market or "fair value" accounting for banks, insurance companies and other financial institutions. (...)

Mark-to-market accounting is the principle reason why our financial system is in a meltdown. The destructiveness of mark-to-market -- which was in force before the Great Depression -- is why FDR suspended it in 1938. It was unnecessarily destroying banks.

But bad ideas never die. Mark-to-market was resurrected by the Financial Accounting Standards Board and became effective in the fall of 2007 (FASB rule 157) to the approval of the Bush administration, its Treasury Department, and the Securities and Exchange Commission. Even as FASB 157 began to take its toll on financial institutions last year, Mr. Bush refused to kill or suspend it. When Congress voiced displeasure last fall, the administration and regulatory authorities made some cosmetic changes, but the poisonous essence remained.

Obama Repeats Bush's Worst Market Mistakes
Steve Forbes - 6/3/2009 - The Wall Street Journal - A13
Mr. Forbes is chairman and CEO of Forbes Inc. and editor in chief of Forbes magazine.

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