[FReepaholic]

...Accuracy in Media has consistently reported, the basic problem is that the regulations that protected investors and their capital were removed, beginning in 2007 under the George W. Bush Administration...

Congress was controlled by the Demoncrats in 2007.

[A.Hun]

The SEC is independent of the Administration anyway. Bush had no hand in this decision.

All that should have been said is that it happened in 2007.

http://www.sec.gov/about/whatwedo.shtml

[greeneyes]

Actually some of the seeds can be traced all the way back to Carter. And I think Clinton was president when they repealed the Glass-Stegal act, and ramped up the CRA to allow more sub-prime loans.

The mark to market rule is a stupid rule. Just because you have not been able to sell a product, stock, or house does not mean it is worthless. A house for example has a replacement value that can easily be calculated. A company has a value too, just because someone drove down the price of the stock does not change the assets that are owned. There is still a “breakup” value to the company.

I have seen a stock go down to a few bucks one day and back up to $20 or $30 bucks in 1-3 days. It is ridiculous to say that the “true value” of the company actually changed that much during that time period, yet that is essentially the gist of the mark to market rule.