Overreliance on markets and models led the SEC and its sidekick FASB to put into place the highly procyclical and ultimately very destructive market-to-market accounting system, despite strong warnings from the secretary of the Treasury, the chairman of the Fed and the chairman of FDIC that it would create greater volatility in banking and lead to severe credit crunches.

FORBES

Attorney General Holder and Secretary Salazar have been committed to resolving pending tribal trust accounting and trust mismanagement cases, in a fair and equitable manner and without protracted litigation, so that the United States and the tribes can jointly undertake reconciliation and empowerment for American Indian nations.

WHITEHOUSE: Osage Tribal Trust Settlement

Bank of New York, which was founded in 1784 by Alexander Hamilton, America's first Treasury secretary, knows that hostile acquisitions are rarely able to use an accounting process known as pooling, which is much kinder to the profitability of the combined firms than the alternative acquisition accounting.

ECONOMIST: Buy, buy

Speaking on CNN Friday morning, Labor Secretary Elaine Chao said the president had appointed a separate task force to review the accounting standards issues.

CNN: Bush: 401(k) proposals are about 'fairness'