BIG FAT DEAL

Back in the Spring of 2009 or just before in the March time frame, the gov stooges got FASB to over rule their long standing accounting rule of marking assets to MARKET VALUE, what anyone is willing to pay for something at the current time, not yesterday,not tomorrow, but today.

But paying the pipe was not something they could stomach, so they basically FORCED GAO to change the rule and that began MARK TO MODEL (fiction) as property values have continued to decline over the past year.

BUT the financials have recovered, in most part because they now APPEAR sound....but are they?

Further, the FED 0% policy adds insult to injury basically PAYING HE BANKS NOT TO LEND.

Rally was born on manipulation and deceit, or outright fraud.....but surely we're all better off.

D