MtM is what got Enron in such a fix. They inflated market "values" and
used that valuation to do all sorts of bad things. I remember guys all
gaga over the concept, kept telling me to use MtM values, then I found
out there was no "there" there. When I raised that objection I was
immediately branded as off the team, and I left shortly before the
implosion.
On 9/11/11 11:29 PM, Mountain Man wrote:
Grant wrote:
I predict there will be a shift of substance in the general populations use
of banks and the holding of cash.... Rather than give it to banks [who have
breached public trust] people will hold cash in hand [if they can get any to
hold]... much like happened post 1928 -1940 period. [ As a general trend ].
Awesome... bad!
Do you - or anyone else here - have information regarding the concepts
of Mark to Market and its application to assets that institutions have
on their books? Are institutions really still keeping book value
rather than market value for their institutional valuations? That
sounds much like what you predict - awesome bad news.
mao
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