Marks: Mark-to-market accounting is ‘accelerant’ to financial crisis(2)
In a memo to investors, Oaktree head Howard Marks cites runaway leverage and fair value accounting as primary culprits in a ‘broad-gauged and systemic’ crisis.
In a memo to investors, Oaktree head Howard Marks cites runaway leverage and fair value accounting as primary culprits in a ‘broad-gauged and systemic’ crisis.
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