Mover Mike

DC Examiner has a side-by-side comparison of original bailout bill with bill provided by House Republican Whip Roy Blunt’s office. Biggest reason to support the bill: The Democrats favorite things, like support for ACORN, are gone thanks to Republicans!

This may keep the devil in the bottle for a week or so, but then someone will realize we are still in a credit crisis and the game is liquidity!

Michelle Malkin has the bill itself and a section-by-section analysis.

UPDATE 8:49PM Jim Sinclair’s Commentary

Rusty Bayonet calls our attention to section 132. The SEC can allow the banks and other financial entities to return to false and misleading accounting. My god, permission to fabricate and lie? That translates into bilk and steal. That should take maybe 2 minutes.

Some say mark-to-market accounting is good because it forces a company to acknowledge “real”market value and helps us avoid another Enron. Others say mark-to-market accounting is bad, because it allows a corporation to preserve its balance sheet, even if it is fiction. Obviously, Jim Sinclair knows what it leads to.

Tags: Government Spending, Investing //
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