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I selected "Mark to Market Accounting" primarily because our current crisis is mostly physiological or self-induced. Under normal circumstances if there is a loan on an asset, and the asset declines in value it is a non-event unless there is a need for a forced sale. If the market gets flooded with forced sales, prices fall further in a frenzy of panic selling. So, given leveraged financial institutions with assets on the books that declined in value and then the need to "mark to market" affecting reserve or capital levels, prompting forced sales and then more forced sales and more forced sales, you end up with a "crisis". If some of these financial institution had an opportunity to operate normally during the normal market correction the situation would have been much more orderly.
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"Democracy is two wolves and a sheep voting on lunch."
"It is useless for the sheep to pass resolutions on vegetarianism while the wolf is of a different opinion."
"If you live among wolves you have to act like one."
"A lady screams at the mouse but smiles at the wolf. A gentleman is a wolf who sends flowers."
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