Double standards

During the Asian Financial Crisis in 1998, the currency and stock markets in South East Asia dropped sharply. It was caused by short selling and aggravated by the accounting rule of "mark to market". The hedge funds made a lot of money by pressing down the markets. The global fund managers said that the weaknesses were due to "lack of transparency" and other factors.

This time, the financial crisis originated from the markets in USA. To address these problems, the following actions are being taken:

> restrict short selling
> use of Government funds to support the market

The following measures are being considered:
> suspend "mark to market"
> suspend the credit rating

These measures were frowned up during the Asian Financial crisis. Now they are being considered. This is a world of double standards.