Valuing the Securities

Notice that I don't call as assets the securities we will buy in the bailout. No one really knows what the value of this stuff is. But a mechanism for pricing this stuff has to be established soon. Mark Thoma has a lengthy article about this issue. He references Bernanke's comments today about valuing the securities as if held to maturity and the alternatives to this as proposed by Krugman and others. It really should be read by our leaders and others who don't want to get screwed.