During last Thursday's hearings by the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises on market to market accounting, the most impressive verbal and written testimony for my money was William Isaac's. Bill gave me permission to share his testimony with you here.
Yesterday (Thursday, March 11) I testified on mark to market accounting before the House Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, a Subcommittee of the Committee on Financial Services. Here is a copy of my testimony. During the hearing, Representative Spencer Bachus, Ranking Member of the parent Committee recommended my blog post, “My Mark-to-Market [...]
My post last Wednesday announced I would be a guest host on CNBC's Squawk Box. For those who missed it, the CNBC video clip can be found here. The full video (excluding commercials) has been uploaded to the NCPA website and can be accessed here.
On January 22, 2009 I posted a letter from Alan Greenspan on the inappropriateness of mark to market accounting for the commercial bank business model [click here]. I also quoted from a recent report issued by Paul Volcker on the same subject. For your convenience I'm posting two other pertinent letters on the subject: One by Treasury [...]
I'm scheduled to be on CNBC's Kudlow Report tonight around 7:20 Eastern; 6:20 Central. We will be discussing Mark to Market. For general information about The Kudlow Report go here. [In case you missed it, here's the video footage. Click here.]
Here are three interviews I did March 9, 2009 at the World Money Show Orlando. Click on the links to view the clips: Extreme Measures Are Needed Evils of Mark to Market Stimulus Efforts Need Focus
Paul Volcker on Mark to Market Accounting Former Fed Chairman, Paul Volcker, Chairman of the Group of Thirty, Consultative Group on International Economic and Monetary Affairs, Inc., just released a study with recommendations on financial reform. Recommendation #12 on Fair Value Accounting reads as follows: “a. Fair value accounting principles and standards should be [...]
I couldn't sleep at all last night. It started with a dream-nay, a nightmare-that I had taken a three-week vacation in a remote part of the world where cell phone reception was happily non existent. There were zero bars. It was a good vacation. I came home refreshed, full of vim and vigor, and ready [...]
"There ain't no money in poetry. That's what sets the poet free. I've had all the freedom I can stand." Guy Clark, Cold Dog Soup In the beginning, there was the stretch for yield that led to subprime, best described in a Japanese Haiku: If regular loans Don't earn enough to suit us Maybe bad [...]
The American Spectator (online) has been running an excellent series of articles on the damage mark-to-market accounting has been doing to our financial system. They have some real heavyweight authors, plus myself. I'm a heavyweight in a different sense. The series is introduced by Editor-in-Chief, R. Emmitt Tyrrell, Jr. accessible from my article. Once there, [...]