WAYNE ABERNATHY – US BANKERS’ REGULATORY CHIEF – SAYS ‘FAIR VALUE’ ACCOUNTING JUST ISN’T FAIR
November 1st, 2008
BY RUSSELL BERMAN
AS policymakers in Washington DC and in capitals worldwide contemplate changes in accounting standards to stem the financial meltdown, one of the men leading the charge against the mark-to-market requirement is Wayne Abernathy.
He is the executive vice president for financial and regulatory affairs at the American Bankers Association (ABA), an influential trade group that for years has railed against so-called fair value accounting.
The fair value rule has now emerged at the centre of debate over financial regulation, with the US Securities ...
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