Fair value accounting

opinions are like assholes and of course I have one.

here is the problem... Not one of these MBS, or CDO is alike.... they stuck them together you can say they are all fruit... except the ones that are "The smell of fruit" CDO(squared).

But even once you get to fruit, it's hard to get them to be oranges to oranges or apples to apples....

Which is why they are illiquid... that and the mask came off and they realized they were not AAA.

so, how can you mark the value of an orange to the value of an apple...

Hopefully treasury can find enough apples and put them together and come up with a value...

but you will never fine the value of a small wiff of a grapefruit.