Manifestor

Ken Lewis Continues to Claim that BofA Will Not Need Additional Capital

Thanks for publishing the interview details as well. That provides an adequate counter to the initial diatribe by the author and made the blog worth reading!

Accounting Rule Changes Creating False Rally in Financials

It is the unintended consequences of M2M that hurt the market. The second order effect that caused an adverse feedback loop (in a down market) made the market go awry. The suspension of the uptick rule that came into effect at the same time just added salt to the injury. The problem happened so quickly that it did not give any time for the banks to deal with the downward spiral in asset price markdown.

Having said that, if market is poised to move up, the second order effect of the M2M can provide a positive feedback loop this time:-) Perhaps they should leave it alone or fake tuning it to give market the kick.

Fed's Strategy to Halt Debt Meltdown is Not Working

I don't see any disclosures from the author. To quote Trader Mark in seekingalpha.com/artic...

"Amazing what the power of rumors is doing in this market. Some powerful hedge funds who have the ears of journalists must be making some huge dollars in this era, simply by betting short and starting worst case scenario rumors. Anything to make a buck... not that they'd do anything like that (ahem)" ...

summarizes very well the situation here. I would add internet bloggers in addition to the journalists mentioned in the above quote.