The regulators and the accountants have failed us terribly, Mr. Munger said, adding that mark-to-market accounting rules are necessary but can obscure other problems within a company.

• 芒格表示，监管机构和会计师事务所让我们深感失望。他还称，按市价计算的会计准则是必要的，但可能会掩盖公司内部的其它问题。