When All Else Is Out of Bounds, Zap Labor
From Nixon’s wage controls to today’s interest rate hikes, the fight against inflation has targeted labor.
"Mark to market" is one of those confusing terms that's been thrown around discussions of the finance meltdown. It's basically an accounting rule that means that a company has to put value certain assets on its balance sheet (in other words, to "mark") at what the market says their worth.
Steven Pearlstein at the Washington Post has a nice description of the term, why getting rid of it has become an obsession of the anti-regulation crowd, and a sensible proposal:
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