Congressman Spencer Bachus, Ranking Member of the House Financial Services Committee, urged Chairman Barney Frank in a letter today to convene hearings on fair value or “mark to market” accounting and the extent to which these standards may have exacerbated the current credit crunch.
Ranking Member Bachus also recommends that the hearings examine whether reforms to FAS 157 are warranted.
Click here for a copy of the letter.
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