Before we start writing checks, can we give this a chance to work?
The SEC isÂ notÂ telling holders of hard-hit mortgage-backed securities that they can willy-nilly slap any value on them they want.
What the SEC is saying is: You can take other factors into account when valuing them.
Balance sheets should be changing. Â Lots of smoke and mirrors, but no tax dollars. Â I think that’s worth a shot.