Legislator wants flexibility in mark-to-market rules in crisis

10/30/2008 | Reuters

U.S. Rep. Barney Frank, chairman of the House Financial Services Committee, said the committee is looking at "modifications" to mark-to-market accounting rules that would give companies flexibility in valuing assets during an economic crisis. Frank was particularly critical of aspects of the rule that effectively trigger automatic consequences when institutions mark the value of their assets in line with market conditions.

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