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  • How to Spend $700B and Actually Solve the Problem [View article]
    I still haven't heard one proposal to "stop the hemorraging" by suspending for ~12 months SARBANES/OXLEY & FASB 157. These are the accounting pressure points which have caused Assets to be driven down nearly to zero. Not because they are worthless--even Paulson admits that! But because of CYA of Exec's forced by auditors/accountants to "Mark-to-Market" [FASB157] assets with undeterminable value. Add SARBOX which makes O/D "personally" liable for financial misstatements, and the death spiral is greased. Naked Shorting accelerated the process downward.
    My analogy is a patient in the ER with a gaping wound, hooked up to a 10 gallon sack of blood for transfusion, but the doctors not repairing the wound....................
    America is great at throwing money at a problem, but real solutions seems to escape our brightest in DC!!!!!!!!!! What happens when the hospital runs out of blood????????
    Sep 25 08:59 am |Rating: 0 0
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