Net Net: Promoting innovation and managing change
Net Net: Promoting innovation and managing change

Hey, Sheila Bair, What's Wrong With Accounting Anarchy?

One thing that has long escaped me has been the point of battles over accounting standards. In particular, I don’t understand why regulators get into arguments with the accounting standards boards over mark-to-market accounting.

FDIC Chairwoman Sheila Bair on CNBC'c Power Lunch
CNBC.com

This morning Sheila Bair, speaking at a SIFMA conference, outlined the objections regulators have to proposals to adopt mark to market—otherwise known as “fair value”—accounting standards for financial instruments. Here’s what Bair said: