On that date, a House financial services subcommittee plans a hearing on mark-to-market accounting rules, which have been blamed for forcing banks to report billions of dollars in write-downs.
It’s been widely revealed that fraud and too much debt got us into this mess…now they want the rules removed that are forcing jsut a small percentage of this stuff into the open to be removed..so more lies and fraud and overleverage can be done. This is going to result in more losses and more hard times. Until this behavior is stoped any uptick yous ee will be naother bubble that goes boom and each boom is going to be more destructive than the preceeding one.