There is an excellent Op-ed in today’s Washington Post entitled Weakening A Market Watchdog: An Accounting Rule Change’s Real Costs.  The author laments the interference of Congress in the independent and sound regulation of our banks.  Specifically, he discusses the political pressure that has been applied to an independent entity to change “mark to market” rules.  He suggests that this pressure, if heeded, is dangerous precedent.  Levitt makes a powerful case that both the present instance and the likelihood that other regulatory bodies will be forced to capitulate to political pressure bode poorly for the future.  It’s not good news for the American investor that independent bodies and regulatory agencies can be coerced by politicians.  I am persuaded and recommend the piece highly to readers.