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To: RockyBalboa who wrote (188113)	3/3/2009 9:34:36 PM
From: Giordano Bruno	Read Replies (1) \| Respond to of 306849

Bank regulators may still be "flexible" regarding mark to market accounting rules. Imagine that.

To: RockyBalboa who wrote (188113)	3/3/2009 10:37:56 PM
From: James Hutton	Respond to of 306849

"Bernanke grilled, lol." I had to laugh sadly when I had to listen to the head of the Federal Reserve tell an elected official that the elected official couldn't know what banks had gotten loans from the Fed. The framers would be calling for another revolution.

To: RockyBalboa who wrote (188113)	3/5/2009 3:05:25 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 306849

AIG outrage.. pfft > finance.yahoo.com Bernanke was particularly peeved that AIG "exploited a huge gap in regulatory oversight" to essentially operate a hedge fund on top of its core insurance business. As a result, he said an AIG failure would be a "disaster," affecting both the insurance industry and Wall Street firms that are counterparties on derivatives trades with AIG. "It's a terrible situation, but we're not doing this to bail out AIG or their shareholders," Bernanke declared. "We're doing this to protect our financial system and to avoid a much more severe crisis in our global economy." That may very well be true but Bernanke could not, or would not, say: * Who, exactly, are AIG's counterparties? * Why AIG debt holders are being treated as if they owned Treasuries, and not the debt of a (once) private firm that has all-but collapsed under the weight of its own greed and incompetence? * How many more times the government will have to bailout AIG, or how much money will ultimately be spent, before this mess is resolved?