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Article: REP. SHADEGG, BIPARTISAN GROUP OF LAWMAKERS URGE SEC TO SUSPEND 'MARK TO MARKET' RULES IMMEDIATELY

Article from:
US Fed News Service, Including US State News
Article date:
September 30, 2008
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Rep. John Shadegg, R-Ariz. (3rd CD), issued the following news release:

Congressman John Shadegg (R-AZ) today issued the following statement after he and Congressman Peter DeFazio (D-OR) sent a letter, signed by a bipartisan group of more than 60 lawmakers, to Securities and Exchange Commission Chairman Chris Cox asking that he immediately suspend Mark to Market rules:

"Congress must protect the American people and enable our nation's financial institutions to make the loans necessary to run America's economy. By immediately suspending Mark to Market rules for accounting and substituting a new set of mark to value rules, we can do this without forcing taxpayers to purchase troubled assets.

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