"Some of the biggest corporate blowups of the past 20 years, like Enron, occurred chiefly because managers could exploit accounting rules that gave them great liberty in pricing assets", Peter Eavis at the WSJ, 4 April 2009.
Thurgood Marshall (TM) said something about SFAS 157. But TM died in 1993. So? His words live on. When I find the quotation, I will post it. Stay tuned. But TM wasn't a CPA. So? He left us some wisdom. We should apply it.