Thursday, April 2, 2009

Mark to market bullshit

The stock market had a significant run up today after some obscure group of nefarious suits decided by ONE VOTE to relax  the standards for mark to market accounting procedures which many of the bigger financial institutions overburdened by bad loans have been crying for.  So despite truly awful unemployment numbers financial stocks soared today.  Hurrayyyyyy for Main St.!!!!

Essentially what the suits want us to believe is that the issue isn't that they have baskets full of stupendously worthless loans but  rather that they have to admit that they have baskets full of stupendously worthless loans.  Well played fat asses.... well played.

I don't know about you but it'd do my soul a world of good if more of this pricks  would start jumping off their ledges.

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