Tea Parties

I heard about this on the news.. isn’t this the thing that the republicans were talking about "teabagging" people..? I think the phrasing should have been run through urbandictionary.com before being named!

I'd vote, but this is a public poll and i don’t feel like voicing my uneducated decision in the matter.. not public, I’d vote.

 

Debbie, I work for Bank of America and your assessment of Mark-to-Market accounting is total unadultered BULLSHIT and is IGNORANT of the facts. In fact, your comments are so utterly STUPID, I'm not even going to attempt to explain THE TRUTH because you Debbie Downer can't see the truth through your hatred for EVERYTHING.

 

this thread is ugly - i'm unsubscribing.

 

Ok, Listen Pster, I'm sorry if I pissed you off. I've read a number of reports about Mark to Market changes, and what I've read sounds rather suspicious. I don't doubt that I could potentially be wrong. So if you want to explain your interpretation of this change in the rules, I'd actually be glad to hear them. I am open for corrections.

 

What the hell web site did this come from? You think this is true!?!?!?!?! This is pure crap! It is a one-sided selective interpretation of Mark-to-Market accounting. You need to come out of your Independent Ralph Nader hole and studdy this much harder.

 

MTM accounting is not in and of itself a bad thing. I support it! The problem is that it DOES NOT WORK IN PERIODS of RAPID and VOLATILE MARKET CHANGES!!!! Even the Financial Accounting Standards Board accepts this! The changes that are being proposed would not do away with MTM accounting, just apply it more failry. One method is to use "trailing market prive averaging" to smooth out peaks and valleys. MTM is killing America and forcing everyone from homeowners to businesses to write down asset values...but guess what...when they go up in value YOU CAN'T WRITE THEM BACK UP!!!!! The article you posted is a one sided view...totally one sided.

 

There are sides to every issue, so its interesting to read both. Here's my one and only issue with the change. Yes, I can see where writing down asset value is a problem if you can't write them back up. But to my understanding of the new rule, a holder of assets- like toxic assets- can have more discretion in giving these assets value. To me, having assets valued at current market value seems more sensible. But having this grey area where assets can be "determined at discretion" seems like one giant waiting loophole.

At the same time, The new Obama plan that enables private investors to invest in toxic assets backed up by taxpayer dollars seems to mesh perfectly with this new change.

Again, I'm curious to hear what your interpretation of this is since you are in the industry.

 

No one knows what the real value of the "toxic assets" are....let's get real here...."toxic assets" are Collateralized Mortgage Obligations, or CMO's. If no one wants them and there is no market for them, then you tell me what they are worth. If some bottom trawling hedge fund offers 20 cents on the dollar I am supposed to write them down by 80%??? If this happens and the value goes back up, the bankers would then be lambasted for giving the ship away!! This is complex shit folks.....IT IS NOT SIMPLE!!!

 

Agreed, and it is a complex and difficult problem of what to do with toxic assets with conceivably unknown values due to how these assets were created. That much is sure.

Anyhow, thank you for your side of the story. let's put this one to rest. No hard feelings.

 

Certainly. Investment Bankers and Politicians ruined this country, not Commercial Bankers. There is a profound difference between IBankers and Commercial Bankers. I endorse breaking banks up again and spinning off IBankers. This will happen......but it takes time to get it right.

 

Well again,
Sorry if I mentioned the incorrect terms when attributing blame.

 

yum, tea with booze in it.

 

Did somebody say Tea Partay!??!

http://www.youtube.com/watch?v=PTU2He2BIc0

 

If you are unsure about what this whole "tea bagging" phenomenon is about, make sure you check out what "astroturfing" means as well. This is not a grass roots organization. Not that you should give a rat's ass what I think.

 

I think they are having one in ALbany,NY.
but I doubt anyone will show up.
and it's not like a real "tea party"
juts something the politicians will laugh at and say, We need to tax more it's out of our hands.. Meanwhile they will get into their limos, and make more money in their salary than 90% of the people they represent do.

 

I'll be at the Dallas Tea Party tomorrow. And yes, I'll be sending in a check to .gov tonight but its not about that.

It's not even about Left or Right.

It's about the government taking tax dollars and spending those dollars on things the American public does not support and on things they do not have Constitutional authority to spend money on in the first place.

Call us the 'silent majority' or whatever you want. I call it fed up. Fed up with the way both parties have been spending money; like there is no tomorrow. Well, there is a tomorrow, and we are spending out kids into more and more debt, and for me, that's enough reason to take a few hours out of my day to show up and show my displeasure in what is occurring.

 

Good post

 

http://www.fairtax.org/site/PageServer

 

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