My point is that if this procedure is going to make the markets rally then Obama will take credit and he will be further encouraged to impose socialism through trillions of wasteful spending, increasing taxes, and printing money. Once socialism is fully imposed than the economy will collapse.
Obama will take credit for anything. I’d still rather our economy bounce back, even if it means Obama takes credit.
Mark-to-Market was a stupid rule. We can make banks do a fair-market evaluation, without forcing them to count all assets as if they had to sell them tomorrow.
Imagine if a store had to “mark-to-market” all of their inventory as if they were going to sell it all tomorrow.