petyaczar

Mike Mayo's Seven Deadly Sins of Banking

mayo should learn the difference between AVERAGE mark don as a percent of all assets, AND MARGINAL mark down of nonperforming (impaired) assets.

If the top of my body is located at 129 degrees and the bootm half of my body is located at 68 degrees, then my AVERAGE temperature is perfect at 98 degrees. but the temperature at the margins really has nothing to do with the average. AND SO IT GOES with mayo's "average markdown of only 2%!!!! meaningless statistic. IMO

Mark to Make-Believe

Mark2MArket is nonsense, it should be called mark to model = mark to last distressed sale model.

M2M requires a willing owner (unwilling seller) with performing assets mark them down to a discounted value so lo that a disinterested potential buyer (unwilling buyer) would consider buying the asset.

what nonsense this mark to market is it helped create the great depression of th 1930's and that is why they got rid of m2m in the late 30's.,

The Bonus Tax: The Redistribution of Both Wealth And Talent

Look, lets call the confiscatory tax on those who make more than Congressmen what it is. REPARATIONS and be done with it.

Lets pass a law that makes ANY politician who fails to deliver on campaign promises, subject to a CLAWBACK, and said politician(s) would have to repay ALL salaries and benefits, and LOSE their office and ALL pensions, benefits, including healthcare AND the right to act as a political lobbyist for 20 years.

These politicians are the root cause of this problem. We must get rid of them replacing them with real Americans from the real world at the next opportunity.

IMO

Time to Bury the Rotting Carcasses of Dead U.S. Banks

InnocentsAbroad, LOL

Nor do monkeys have opposing views.
Don't let Congress know, some of them, like Barney Frank and Pelosi may sense a corollation and earmark funds to study the relationship between lack of opposing thumbs AND lack of opposing views in monkeys.

$1,0000000000000000000...

or so should do for starters.

Time to Bury the Rotting Carcasses of Dead U.S. Banks

The politicians are the root cause of the banking crisis.
The change in accounting rules is the root cause of the banking crisis.

At its heart, this is an accounting crisis, that created a financial crisis.

Dump Mark to Market, eliminate FASB 157, reinstate Glass Steagall, and the uptick rule on short sales, and the "Crisis" will disappear, the banks and financial system and credit will recover and they will be just fine.

and it won't cost a dime! to get back to accounting sanity.

Mark to MArket = an idiotic accounting change that requires a willing owner (unwilling seller) to discount performing assets down to the point where an unwilling buyer might suddenly become interested.- and then pretend this is the true value of these assets. This is half xsss backwards.

THIS IS BEYOND STUPID. ITs the kind of 2+2= 1.3 logic that only a D/A politician could dream up.

IMO

Trading the Mark-to-Market Modification (Updated)

MARK TO MARKET is the root cause of this financial catastrophe.
FASB 157 caused an accounting panic, that turned into a financial panic and is now the precipitating cause of the Greater Depression of 2008-200?
thereby enabling the politicians - who caused the G/D problem - to pull off a Coup deTat on the Free Enterprize System turning America inexorably on the road to Socialism and perhaps fascism. - See Germany 1936.

Kill Mark to Market, drive a stake thru its heart, cut off the head of Fair Value Accounting, burn the corpus delecti, so fasb 157 can NEVER EVER arise again and sucj the life blood out of our economic veins.

NEVER confuse Accounting with reality, NEVER allow the politicians -most of whom have never run a single G/D thing of any consequence, to meddle in the operations of companies.

Tell Nancy Pelosi and all those D/A politicians to
1)Turn on your Govt jets, fly commercial - center seat - in coach
2)No more junkets to ANYWHERE internationally or deomstically
3)Stop messing with the free enterprise system.
4)Make abscounding with Social Security Trust funds a hanging offense.

Wall Street Breakfast: Must-Know News

What happener to Eli?
When will he be back?