COMEDY GOLD: Mark To Market With Alan Grayson 

Feb 20, 2013 at 10:15 AM
DailyBail in Bank Bailouts, FASB, FASB, MTM accounting, accounting, alan grayson, alan grayson, banks, banks, comedy, congress, fas 157, insolvent banks, video

'Let's change the length of inches so I'm shorter!'

Brilliant stuff from Grayson.  We had never seen this clip until this morning.  Fair value, mark to market, FAS 157 nonsense exposed.  Robert Herz of FASB admits to widespread insolvency in the banking sector, and tells a classic story.

The witnesses for this hearing were:

Mr. James Kroeker, Acting Chief Accountant, SEC
Mr. Robert Herz, Chairman, Financial Accounting Standards Board
Mr. Kevin Bailey, Office of the Comptroller of the Currency

 

Article originally appeared on The Daily Bail (http://dailybail.com/).