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Politics : Politics of Energy -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (10402)	7/2/2009 8:45:01 AM
From: Road Walker	Read Replies (1) \| Respond to of 86355

But here's the funny thing about Western nations holding themselves to a higher standard. It has always started out with short term costs, but always lead to long term gains and prosperity. Remember how dirty the air used to be around all major cities? Remember how dirty the rivers used to be when there was no regulation/enforcement on dumping? Remember acid rain? All cost money to fix. Would these guys reverse those changes?

To: RetiredNow who wrote (10402)	7/2/2009 4:39:52 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 86355

Recently, we've backslid on that and now Europe has the most stringent accounting requirements and the best fiscal discipline. It's no wonder the value of their currency continues to climb against ours. They DO??!!! The FASB imposed M2M accounting standards upon the US financial system and the EU HAS NOT imposed it upon theirs!!! cfo.com That means that European accounting standards are still pricing their asset backed securities as if all of their mortgages are sound. So.. did we screw up by imposing M2M accounting, or are the Europeans hiding something? It's all a matter of perspecitive. But I can suggest that what occurred in Iceland is pretty good evidence that European accounting is not as "sound" as you'd like to think it is. Hawk