Want to know the real reason financial stocks rose so much today? The SEC loosened the accounting rule called “Mark to Market” today. This accounting rule is blamed for the financial problems of banks and other financial institutions, because it requires companies to value assets on their books at the price they could actually bring [...]
Filed under: Economy, Political | Tagged: Economy, FASB, mortgage writedowns, SEC, Stock Market, toxic crap | Leave a Comment »
Here are the current top three stories in the NY Times Business Section as of 9:30pm ET, July 28th: Record Deficit of $482 Billion Forecast By ROBERT PEAR and DAVID M. HERSZENHORN 4:17 PM ET The White House predicted on Monday that the Bush administration would bequeath a record deficit of $482 billion to the [...]
Filed under: Economy, Political | Tagged: Bear Market, Bush, Bush is an idiot, deficit, mortgage writedowns, NY Times, Stock Market | Leave a Comment »
