SEC won't suspend mark to market

I agree with this guy.

"The damage has been done. Repeal or modification of FAS 157 will now almost certainly have limited positive effects now that reflexivity has begun to work its magic. In fact, one could argue that repeal or modification of mark-to-market will actually inhibit, if not outright eliminate, the recognition of the capital appreciation potential in many of the panic driven depressed assets once fear recedes and balanced thinking returns. Under such conditions, one can only conclude that the winners will be those who scoop up the babies thrown out with the bath water. Tragically, those winners are not likely to be the entities who were forced to writedown all the "toxic" assets - the banks. "

Cont. on link.

http://seekingalpha.com/article/122411-fasb-the-damage-has-been-done
 
Bernanke, however, did say that he would like to see more done to provide guidance to banks and financial firms on how they can give indications of value for assets being traded under fire-sale market conditions
 
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