Political Quotes

Brad Sherman: “Now, I have heard that there is this thing called fair value accounting--I think it is better called fantasy value…”

On the recordJune 2, 2015
Now, I have heard that there is this thing called fair value accounting--I think it is better called fantasy value accounting--which would say that you should determine your profit or loss not based on whether you have a profit or loss, but whether you would have a profit or loss in some artificially constructed fair world.
Said by
Brad Sherman
Democratic · California

Editor's note · Context

Sherman criticizes fair value accounting as unrealistic.

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