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.
Antitrust at the Agencies: Happy New Year 5786 Edition
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It’s the beginning of a new year for some of us, so let me wish all of you
a good year, and a sweet year, even if you don’t know what I’m talking
about. ...
3 hours ago
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