Fair value's future remains uncertain
Barack Obama has been silent on issues of importance to the profession, such as whether he is for suspending fair value principles, despite the financial turmoil affecting US markets
Senator Obama’s opponent in the race for the White House, John McCain, has
said twice that he favours suspending fair value accounting requirements in a
bid to ameliorate the credit crisis.
A review of Obama’s public speeches suggests that he has not discussed the
Obama’s campaign has also declined to respond to requests for comment from
In public remarks responding to the financial meltdown, Obama has railed
against deregulation under presidents Clinton and Bush, but has not talked
specifically on what regulation he will prescribe.
He has promised to investigate credit rating agencies, beef up transparency
requirements for financial institutions and strengthen capital requirements for
complex financial instruments, however.