[ale] [OT][Way OT] Industrial Power Question - Further OT - Oil companies

[Greg Freemyer]

On Fri, Feb 6, 2009 at 3:21 PM, Jeff Lightner <jlightner at water.com> wrote:
> What crap!
>
> Book value of capital assets does not increase while they are held.

Unfortunately you are wrong.  Ever heard of "Mark to Market".  Blamed
by many for our financial meltdown.

I can only tell you what wikipedia has to say, but per it, as of Nov.
2007 the rules changed.

http://en.wikipedia.org/wiki/Mark_to_market#FAS_157

I do know that a lot of talking heads were complaining about "mark to
market" back in Sept / Oct because now assets MUST be valued at "fair
market value" in a lot of cases and with real estate values dropping
it was devastating banks.

Isn't it great to know this one little regulation change may have
triggered the entire collapse of our financial industry.

Greg