http://www.bloomberg.com/apps/news?pid=20601103&sid=anxWMO3xnKps Thus far, the only thing Geithner and his cronies saved is the stock market while fattening up the wallets of his Wall Street buddies. It's too bad his plan will die in vain as I'm seeing another market plunge in the offing.
I don't understand why he keeps saying the stress test worked. It was the abandonment of mark-to-market that worked.
What do you mean by "worked"? How can you claim anything worked when you essentially changed the rule of the game in midair? Plus what the hell is the need for the rules if you can change them at will whenever you find them inconvenient?
Yes, your implication is correct: "worked" is a misnomer. In any case, it worked well enough for us to make some money, huh?
Here's your chance to make public comment. FASB Issues Proposal Requiring Banks to Book Loansâ Fair Value http://www.bloomberg.com/apps/news?pid=20601087&sid=aZRRU2uGbl9g&pos=7
http://www.telegraph.co.uk/finance/...-1930s-pace-as-Obama-eyes-fresh-stimulus.html The mistakes spend your way out of trouble.....are going to bring this country into the first wave of a depression by fall of this year. At first, I thought there was hope. But it now seems that a majority of bills are hitting the house floor...including double taxation on top of the current taxation on OIL COMPANIES....which means....higher gas prices for you at the pump. Second...they (Obamaland) want a fresh round of printing press. Job numbers are not any better other than before as the private sector is still laying off, even the the Gov is hiring. The shit is really gona hit the fan and it will be a Greece like situtation once the Sheeople wake up. Until then...enjoy the show.