Marking to market is a good idea, but beware of the unintended consequences of good ideas.
This article makes the same point, and many others (about Fannie and Freddie, about the repeal of Glass-Steagall), very well.
Creative Destruction in a Nutshell
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A good figure from the Nobel Prize Foundation’s Scientific Background to
the Mokyr, Aghion and Howitt Nobel. The figure shows that firm exit rates
and jo...
3 hours ago
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