On Tuesday I attended an economic forecast by Brian Wesbury. You can read my notes from his speech here.
During his presentation Brian talked about what a mess the mark-to-market accounting rules has created. These rules force every bank to take losses before they even happen. These accounting rules are having disastrous effects on our economy. Brian believes the market would rally if we suspended or terminated mark-to-market accounting.
Learn more about mark-to-market accounting and why it should be suspended by:
- Reading this one page commentary from Brian’s firm: Don’t Nationalize; Suspend Mark-to-Market (February 23, 2009)
- Watching this video (7:23) where Brian answers some arguments against mark-to-market: Bank Nationalization and Mark-to-Market (February 20, 2009)
Brian is encouraging everyone to write a letter to your senator or representative in congress to push for relief from mark-to-market accounting. I believe that Brian’s arguments make sense. I sent my letter today. Will you take the time to send a letter too?
Brian has provided a sample letter on his firm’s website. Click on the link to download it, personalize it, and send it to your elected officials.
