With SEC Chairman Cox stepping down yesterday and the new Chairwoman Maria Schapiro stepping in, some swift changes should accompany the appointment.
You will also most likely see changes to the mark-to-market accounting rules implemented last year. However appropriate in theory - they are killing any chances for the banks to re-capitalize. You could say it would be a necessary evil to end the viscous nature of the feedback cycle that is gripping the banks, and preventing them from lending throughout the crisis.
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1 comment:
I hope you are right. I do not think the government will let the banks fail. to do so would doom the market for many years. Long term, I thinks the banks are a buy here.gettem when no one else will touch them. Some would say, Im trying to catch a falling knife.Only time will tell. Thanks for your blog.
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