This accounting rule is forcing financial institutions to write down their debt securities to ridiculously low values which only causes the problems to “trickle down”. I’m not necessarily advocating getting rid of it. Apparently mark to market rules came after the S&L bailout so they are useful.
Also, re-implement the uptick rule on short sales. Of course with penny stock increments it doesn’t take much to have an uptick. Perhaps they should make it a nickle or something. The problem with this rule is it’s hard to enforce.
