Old Coach's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/266820/comments http://seekingalpha.com/article/99698-of-guarantees-and-printing-presses?source=feed#comment-282080 282080 Tue, 14 Oct 2008 11:10:48 -0400 http://seekingalpha.com/article/98677-will-tarp-cover-both-ambac-and-mbia?source=feed#comment-274974 274974 Mon, 06 Oct 2008 15:11:43 -0400 http://seekingalpha.com/article/98677-will-tarp-cover-both-ambac-and-mbia?source=feed#comment-274788 274788 Mon, 06 Oct 2008 12:11:57 -0400 http://seekingalpha.com/article/98383-mbia-sues-countrywide-part-of-the-solution-to-clean-up-the-lies?source=feed#comment-272925 272925 Fri, 03 Oct 2008 14:51:24 -0400 http://seekingalpha.com/article/98383-mbia-sues-countrywide-part-of-the-solution-to-clean-up-the-lies?source=feed#comment-272692 272692 Fri, 03 Oct 2008 11:47:49 -0400 http://seekingalpha.com/article/98383-mbia-sues-countrywide-part-of-the-solution-to-clean-up-the-lies?source=feed#comment-272442 272442 Fri, 03 Oct 2008 08:26:27 -0400 http://seekingalpha.com/article/96773-ambac-mbia-moody-s-strikes-again?source=feed#comment-267936 267936 Sun, 28 Sep 2008 20:13:44 -0400 http://seekingalpha.com/article/96773-ambac-mbia-moody-s-strikes-again?source=feed#comment-267935 267935
SEC. 132. AUTHORITY TO SUSPEND MARK-TO-MARKET AC-
COUNTING.
(a) AUTHORITY.—The Securities and Exchange Com-
mission shall have the authority under the securities laws
(as such term is defined in section 3(a)(47) of the Securi-
ties Exchange Act of 1934 (15 U.S.C. 78c(a)(47)) to sus-
pend, by rule, regulation, or order, the application of
Statement Number 157 of the Financial Accounting
Standards Board for any issuer (as such term is defined
in section 3(a)(8) of such Act) or with respect to any class
or category of transaction if the Commission determines
that is necessary or appropriate in the public interest and
is consistent with the protection of investors.


SEC. 133. STUDY ON MARK-TO-MARKET ACCOUNTING.
(a) STUDY.—The Securities and Exchange Commis-
sion, in consultation with the Board and the Secretary,
shall conduct a study on mark-to-market accounting
standards as provided in Statement Number 157 of the
Financial Accounting Standards Board, as such standards
are applicable to financial institutions, including deposi-
tory institutions. Such a study shall consider at a min-
imum—
(1) the effects of such accounting standards on
a financial institution’s balance sheet;
(2) the impacts of such accounting on bank fail-
ures in 2008;
(3) the impact of such standards on the quality
of financial information available to investors;
(4) the process used by the Financial Account-
ing Standards Board in developing accounting
standards;
(5) the advisability and feasibility of modifica-
tions to such standards; and
(6) alternative accounting standards to those
provided in such Statement Number 157.
(b) REPORT.—The Securities and Exchange Commis-
sion shall submit to Congress a report of such study before
the end of the 90-day period beginning on the date of the
enactment of this Act containing the findings and deter-
minations of the Commission, including such administra-
tive and legislative recommendations as the Commission
determines appropriate.

]]> Sun, 28 Sep 2008 20:12:48 -0400
SEC. 132. AUTHORITY TO SUSPEND MARK-TO-MARKET AC-
COUNTING.
(a) AUTHORITY.—The Securities and Exchange Com-
mission shall have the authority under the securities laws
(as such term is defined in section 3(a)(47) of the Securi-
ties Exchange Act of 1934 (15 U.S.C. 78c(a)(47)) to sus-
pend, by rule, regulation, or order, the application of
Statement Number 157 of the Financial Accounting
Standards Board for any issuer (as such term is defined
in section 3(a)(8) of such Act) or with respect to any class
or category of transaction if the Commission determines
that is necessary or appropriate in the public interest and
is consistent with the protection of investors.


SEC. 133. STUDY ON MARK-TO-MARKET ACCOUNTING.
(a) STUDY.—The Securities and Exchange Commis-
sion, in consultation with the Board and the Secretary,
shall conduct a study on mark-to-market accounting
standards as provided in Statement Number 157 of the
Financial Accounting Standards Board, as such standards
are applicable to financial institutions, including deposi-
tory institutions. Such a study shall consider at a min-
imum—
(1) the effects of such accounting standards on
a financial institution’s balance sheet;
(2) the impacts of such accounting on bank fail-
ures in 2008;
(3) the impact of such standards on the quality
of financial information available to investors;
(4) the process used by the Financial Account-
ing Standards Board in developing accounting
standards;
(5) the advisability and feasibility of modifica-
tions to such standards; and
(6) alternative accounting standards to those
provided in such Statement Number 157.
(b) REPORT.—The Securities and Exchange Commis-
sion shall submit to Congress a report of such study before
the end of the 90-day period beginning on the date of the
enactment of this Act containing the findings and deter-
minations of the Commission, including such administra-
tive and legislative recommendations as the Commission
determines appropriate.

]]> http://seekingalpha.com/article/97622-banking-on-wachovia-as-a-bailout-trade?source=feed#comment-267933 267933
SEC. 132. AUTHORITY TO SUSPEND MARK-TO-MARKET AC-
COUNTING.
(a) AUTHORITY.—The Securities and Exchange Com-
mission shall have the authority under the securities laws
(as such term is defined in section 3(a)(47) of the Securi-
ties Exchange Act of 1934 (15 U.S.C. 78c(a)(47)) to sus-
pend, by rule, regulation, or order, the application of
Statement Number 157 of the Financial Accounting
Standards Board for any issuer (as such term is defined
in section 3(a)(8) of such Act) or with respect to any class
or category of transaction if the Commission determines
that is necessary or appropriate in the public interest and
is consistent with the protection of investors.


SEC. 133. STUDY ON MARK-TO-MARKET ACCOUNTING.
(a) STUDY.—The Securities and Exchange Commis-
sion, in consultation with the Board and the Secretary,
shall conduct a study on mark-to-market accounting
standards as provided in Statement Number 157 of the
Financial Accounting Standards Board, as such standards
are applicable to financial institutions, including deposi-
tory institutions. Such a study shall consider at a min-
imum—
(1) the effects of such accounting standards on
a financial institution’s balance sheet;
(2) the impacts of such accounting on bank fail-
ures in 2008;
(3) the impact of such standards on the quality
of financial information available to investors;
(4) the process used by the Financial Account-
ing Standards Board in developing accounting
standards;
(5) the advisability and feasibility of modifica-
tions to such standards; and
(6) alternative accounting standards to those
provided in such Statement Number 157.
(b) REPORT.—The Securities and Exchange Commis-
sion shall submit to Congress a report of such study before
the end of the 90-day period beginning on the date of the
enactment of this Act containing the findings and deter-
minations of the Commission, including such administra-
tive and legislative recommendations as the Commission
determines appropriate.

]]> Sun, 28 Sep 2008 20:07:43 -0400
SEC. 132. AUTHORITY TO SUSPEND MARK-TO-MARKET AC-
COUNTING.
(a) AUTHORITY.—The Securities and Exchange Com-
mission shall have the authority under the securities laws
(as such term is defined in section 3(a)(47) of the Securi-
ties Exchange Act of 1934 (15 U.S.C. 78c(a)(47)) to sus-
pend, by rule, regulation, or order, the application of
Statement Number 157 of the Financial Accounting
Standards Board for any issuer (as such term is defined
in section 3(a)(8) of such Act) or with respect to any class
or category of transaction if the Commission determines
that is necessary or appropriate in the public interest and
is consistent with the protection of investors.


SEC. 133. STUDY ON MARK-TO-MARKET ACCOUNTING.
(a) STUDY.—The Securities and Exchange Commis-
sion, in consultation with the Board and the Secretary,
shall conduct a study on mark-to-market accounting
standards as provided in Statement Number 157 of the
Financial Accounting Standards Board, as such standards
are applicable to financial institutions, including deposi-
tory institutions. Such a study shall consider at a min-
imum—
(1) the effects of such accounting standards on
a financial institution’s balance sheet;
(2) the impacts of such accounting on bank fail-
ures in 2008;
(3) the impact of such standards on the quality
of financial information available to investors;
(4) the process used by the Financial Account-
ing Standards Board in developing accounting
standards;
(5) the advisability and feasibility of modifica-
tions to such standards; and
(6) alternative accounting standards to those
provided in such Statement Number 157.
(b) REPORT.—The Securities and Exchange Commis-
sion shall submit to Congress a report of such study before
the end of the 90-day period beginning on the date of the
enactment of this Act containing the findings and deter-
minations of the Commission, including such administra-
tive and legislative recommendations as the Commission
determines appropriate.

]]> http://seekingalpha.com/article/96879-winners-and-losers-in-the-bailout-bonanza?source=feed#comment-263121 263121
Congress is posturing. They've got a gun to their heads and they know it. Mark to market accounting will be adjusted so all financials will get a break and off we go til the next crisis.

Meanwhile the idiots that we elect on both sides of the aisle will keep trying to blame each other. Throw mud at everyone in the arena so decent intelligent people stay away. All the while, the Chinese are fixing to lend us our lunch money and then eat our lunch!

Where have all the grown-ups gone? ]]> Wed, 24 Sep 2008 00:02:13 -0400
Congress is posturing. They've got a gun to their heads and they know it. Mark to market accounting will be adjusted so all financials will get a break and off we go til the next crisis.

Meanwhile the idiots that we elect on both sides of the aisle will keep trying to blame each other. Throw mud at everyone in the arena so decent intelligent people stay away. All the while, the Chinese are fixing to lend us our lunch money and then eat our lunch!

Where have all the grown-ups gone? ]]> http://seekingalpha.com/article/96507-ambac-collapse-anticlimax-of-the-week?source=feed#comment-261497 261497 Mon, 22 Sep 2008 11:39:10 -0400 http://seekingalpha.com/article/96507-ambac-collapse-anticlimax-of-the-week?source=feed#comment-261030 261030 Sun, 21 Sep 2008 23:22:40 -0400 http://seekingalpha.com/article/96507-ambac-collapse-anticlimax-of-the-week?source=feed#comment-260855 260855 Sun, 21 Sep 2008 16:20:12 -0400