Because of the current fragility of investor confidence, regulators should hold steady on current mark-to-market standards, many feel.
Events have finally overtaken the debate on mark-to-market accounting, leaving previous rivals clinging together to the Financial Accounting Standards Board's controversial standard on fair-value measurements like shipwreck victims to a raft at sea, the drama unfolding at the Securities and Exchange Commission's final roundtable on fair value Friday seemed to indicate.
Even the representatives of financial-services institutions, up until now the fiercest opponents of the FASB standard, SFAS 157, seem wary of calling for replacement or suspension of the measure in the face of the disastrously plummeting stock market. Now, many agree, it doesn't make sense to tamper with the rule and risk losing whatever investor confidence that still remains.
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