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  << Previous entry: Political campaigns energized by FPL debate >> Next entry: Will lawmakers confirm PSC commissioners? CitiMortgage to let delinquent homeowners hang around for six monthsBy Paul Owers February 11, 2010 12:29 PM
  Wow...their so altruistic.
  Give them a hand |
  Here's a better idea...let them foreclose on everyone but lets bring back mark to market accounting for the industry.
  Whistling Past The Graveyard We Be.....
  "Was not the entire purpose of getting rid of "mark to market" accounting in early 2009, without which we were told the entire financial system would turn to slag and melt around our ankles, all about balance sheet fraud? About financial institutions that were carrying "assets" at values that could not then (and still cannot now) be justified based on their market price?
  What else is "mark to market" but a demand that one's balance sheet accurately reflect the market value of what you hold?
  The requirement that publicly owned corporations disclose complete and accurate financial reports is part of the bedrock of U.S. securities laws. Just as important is the promise that the government will enforce those laws when they've been broken. Undermine the public's faith in either of those functions, and confidence in the capital markets crumbles. http://market-ticker.denninger.net/archives/1958-Whistling-Past-The-Graveyard-We-Be......html