THE DOT - if this turns orange or red be alert

Thursday, April 2, 2009

Obama is about change but more like changing gears of greed

Its unbelievable what this Obama admin is doing - Rothschild running America could not have done any better ( actually they do run the country). Its paradise for bankers to have the Obama administration as they get all the ways to keep what they have been doing now with taxpayer guarantee's as a backstop behind them. How did Geithner say banks have to take more risks - I think he has a huge misconcept of the situation to put it very mildly but I never expected anything else from a special breed who was trained to do exactly what he does now. earnings of banks will look very smooth going forward for 2 quarters that's why we have this strong rally and people will call the recession off but that is a deception and a fabricated lie. Its a huge scam as you might have seen the latest '24' the government is contaminated to the highest levels now. More on that later on the WE as we will have more news to pop up from the G20 - one is that the IMF is changed to the coming global central bank with bigger steps now exactly as the Bilderberger planned, another step forward in the New World Order. Create chaos and you get change the whole infrastructure politically and economically is the name of the game.

Banks Given More Leeway In How They Value Toxic Assets

The board that sets U.S. accounting standards on Thursday gave companies more leeway when valuing assets, providing a potential boost to battered banks' balance sheets.

The independent Financial Accounting Standards Board voted to adopt new guidelines under the so-called mark-to-market accounting rules, which require companies to value assets at prices reflecting current market conditions. The board was meeting at its headquarters in Norwalk, Conn.

The changes will allow the assets to be valued at what they would go for in an "orderly" sale, as opposed to a forced or distressed sale. The new guidelines will apply to the second quarter that began this month.

The mark-to-market rules have forced banks to take steep write-downs on some assets, especially securities tied to high-risk subprime mortgages, as the industry has reeled from the housing market slump and banks have foundered and failed.

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I am a professional independent trader