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As Bankers Kill Off Mark-To-Market For Good, Former FDIC Chairman Gloats

By Implode-Explode Heavy Industries

``Following the announcement, none other than Bill Isaac, current Chairman of LECG, but far more importantly, former Chairman of the FDIC under Ronald Reagan decided to send out a gloating email to his entire address book explaining what a moral victory it is to kill the MTM monster that is the sole reason for the near collapse of capitalism in 2008, and how truly wonderful it is for everyone to live in perpetual lack of knowledge of what the true value of any company's assets really is.''

Full post as published by Mortgage Lender Implode-o-Meter on January 27, 2011 (boomark / email).