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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (10109)	9/28/2008 10:39:32 PM
From: Hawkmoon	3 Recommendations Read Replies (1) \| Respond to of 33421

Will we actually even NEED $700 Billion to deal with this? The most critical portion of this legislation may have nothing to do with that money: SEC. 132. AUTHORITY TO SUSPEND MARK-TO-MARKET ACCOUNTING. (a) AUTHORITY.—The Securities and Exchange Commission shall have the authority under the securities laws as such term is defined in section 3(a)(47) of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)(47)) to suspend, by rule, regulation, or order, the application of Statement Number 157 of the Financial Accounting Standards Board for any issuer (as such term is defined in section 3(a)(8) of such Act) or with respect to any class or category of transaction if the Commission determines that is necessary or appropriate in the public interest and is consistent with the protection of investors. (b) SAVINGS PROVISION.—Nothing in subsection (a) shall be construed to restrict or limit any authority of the Securities and Exchange Commission under securities laws as in effect on the date of enactment of this Act.

To: Hawkmoon who wrote (10109)	9/29/2008 12:21:39 AM
From: John Pitera	4 Recommendations Respond to of 33421

Hi Hawk, one of the reasons that I pick high quality analytic exposure articles from Bloomberg, The WSJ, The Financial Times, The New York Times, the Economist and many other top brow firms is that I do not want the readers of this thread to be able to say that these are the mad musings of JP and that we don't have support for his claims and suppositions in the "official" financial media. Most often I use the articles from our premium news sources and then highlight,boldface and underline, the many incongruities in these stories in an ongoing effort to bolster the fact that I am providing note making analysis up out of thin air and that the financial abuses are as truly monumental as they appear to be. Obviously, i at times give my entirely independent take which is not paid for or flavored by considerations by any particular financial compensation deal. John