What kills me, is that congress acted that fast on some pissant bonus issue, but meanwhile.
Naked shorting, was never dealt with. Uptic rule still not in place. Mark to market still not dealt with. Meanwhile the US Govt is stealing equity ownership of US Corporations being called a “bailout”.
Even Carter didn’t steal Chyrsler from the shareholders!!??
All of that is absolutely true.
I understand that FASB is in the process of easing some mark-to-market restrictions which may ease some balance sheet pressure. But, it's just a little too late. I'm mad at the GOP because for six years they had an opportunity to really reform the US financial oversight bodies. They didn't. And, I'm not in the Limbaugh crowd of "all regulation is bad regulation" - not at all. But, bad regulation or poor enforcement of good regulation is a recipe for disaster, and I don't see anyone proffering any good ideas on how to improve, not destroy what we have.
This populace wave is very dangerous. Obama is going to use it and our economic system will be much worse off for it.