Yes, opacity is what we need more of

This may be the stupidest thing I have heard recently - I knew it was probably coming, but that doesn't make it less stupid.

Basically, this is stupid because it allows investment holders to essentially "use their own judgement" in determining the value of those investments. If the market for those investments is not good (i.e. they are not worth very much) then the investment holder can pretend the investments are still worth what they would like them to be, rather than declaring them on their balance sheet at their actual value. This reduces transparency - financial reports will say everythign is just fine, until it's too late.

This is the kind of thinking that got s where we are today.

I assume that this means that homeowners will be able to borrow money against their homes at the value their "internal model" indicates the home is worth, rather than wha the appraiser tells the bank it's worth. Right? I mean, that's only logical.