In the June issue of Financial Services Outlook, Peter J. Wallison argues that fair value accounting has been the principal cause of an unprecedented decline in asset values and an unprecedented rise in instability among financial institutions.

• Read this issue
• All Financial Services Outlooks
• AEI's Outlook series

Need a print-quality portrait of an AEI scholar?

Click on any scholar's name in the Scholars & Fellows menu. In the resulting page, look for the red Downloads heading in the righthand gray box for high-resolution photos and other helpful files.