Despite the market’s apparent aversion to mark to market accounting, Lloyd Blankfein, CEO of Goldman Sachs, this week spoke about the benefits of the rules, which he said could have provided an “early warning” of the financial crisis. Speaking at the annual International Organisation of Securities Commissions (IOSCO) conference in Tel Aviv, Blankfein said the practice of marking to market, or reporting assets at their current market value, meant that institutions were forced to face up to their losses.

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