The mark to market repeal rumor keeps making the rounds.  Everyone seems to think this is great for the market, but I see things differently.  One of the main components of psychologically induced deflation spirals is a lack of trust – consumers are less and less willing to purchase falling assets as trust in the market place collapses.  If we remove mark to market doesn’t that just make these banks even less transparent than they currently are?   As John Hussman said, not opening your bank statements doesn’t mean you haven’t lost money….