December 10, 2012 12:13 am

The pains of mark-to-market

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From Mr John Murray.

Sir, Your article “A show of strength or a fiction?” (Analysis, December 6), about the alleged misdemeanours of Deutsche Bank, observes that the whole issue has now blown over, then ends with a comment from a former employee: “If Lehman Brothers didn’t have to mark [to market] its books for six months it might still be in business. And if Deutsche had marked its books it might have been in the same position as Lehman.”

So is this a cry of righteous indignation or a damning indictment of mark-to-market accounting?

John Murray, Guildford, Surrey, UK

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