By James S. Chanos: Mark-to-market (MTM) accounting is under fierce attack by bank CEOs and others who are pressing Congress to suspend, if not repeal, the rules they blame for the current financial crisis. Yet their pleas to bubble-wrap financial statements run counter to increased calls for greater financial-market transparency and ongoing efforts to restore investor trust.
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Source: The Wall Street Journal, 23 March 2009. Copyright ©2009 Dow Jones & Company, Inc. All rights reserved.