Accounting Standards Eased Today!

[Joanne98]

Good news! Accounting standards on the financial services industry were eased today!

Financial stocks also gained support from news that the Financial Accounting Standards Board, which sets U.S. accounting rules, proposed to give more leeway on mark-to-market accounting rules.

Mark-to-market accounting has forced financial institutions to write down billions of dollars in assets.

Larry Kudlow is thrilled!


Kudlow says that these changes will lift the "jackboot" of the Securities and Exchange Commission "off of the market":
Yes! The real problem is that the regulations on the financial services industry were too strict! We needed to ease the regulations, and make the economy even more bullshit based! That will surely get us out of the recession!


Rush Limbaugh agrees!


Another break, then Rush and a caller discussed mark-to-market accounting and how its abolition would immediately spark an economic recovery.
We are saved! Yes! Yes! Yes!

http://www.openleft.com/showDiary.do;jsessionid=5D9DAF212F37C76514D0B9DDD87D5AE1?diaryId=12275

[bbinacan]

1. Your link doesn't work. n/t

[ww2player]

2. just what we need.. weaker financial standards..

I am sure this will fix all our problems, more enron accounting to make things look better than they are. So retarded... Vote them ALL out and take every dime they milked outta the taxpayers. Cancel their great health care plans and makem pay their own way for once!! and screw their pensions.. makem live off Social Security and Medicaid!