Last week in a panel debate broadcast on ABC, Arianna Huffington called the decision by the Financial Accounting Standards Board (FASB) to suspend mark-to-market "absolutely tragic." The issue Arianna identifies resonates with the implications of the actions agreed at the recent G-20 meetings in Washington and London. One of the immediate actions of the G-20 Washington Summit was "strengthening transparency and accountability" particularly with regard to financial reporting.

 

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