“Mark to Market’ accounting rules must be reviewed prior to asset sales by AIG or others holding paper on ‘performing’ loans. This single change will ease the ‘cash’ margin requirements of these artificially lowered assets and allow for the orderly evaluation of the strength or weakness of companies currently holding these assets. These performing assets which currently are artificially reduced should be ‘set aside’ to allow these ‘performing’ loans to work through the transition rules to provide protection to homeowners and not hinder the lender trapped by the ‘artificial’ valuation of these performing loans.
excerpts from a speech by Mr. Liveris, CEO, Dow Chemical Corporation
“I’m concerned that we’re in the midst of the greatest wealth transfer out of this country in history,” he said. “$500B billion plus (is) spent annually for foreign oil – and too few in Washington seem alarmed.”
Liveris broadly outlined elements of a policy that he said would improve the industrial economy in the U.S., saying such a plan would include lower corporate tax rates, a new regulatory framework and judicial reforms. It also would include what he described as a comprehensive energy strategy.
In light of current events in the Financial and Insurance Industry it is apparent that the current ‘Mark to Market’ Accounting rules/practices and other regulatory requirements currently in place are impacting the Finantial Industry and will further accelerate this transfer of wealth from the U.S and MUST be STOPPED.
Regulatory changes must be implemented immediately that are responsive to a changing business environment as a new ‘world economy’ emerges. Financial institutions, weakened by these regulations have come under attack by ‘short sellers’ and the downward spiral of artificially devalued assets has caused much of the distress these institutions are currently experiencing.
“A country can’t be strong abroad if it’s not strong at home.”
Look for Allianz, Tokyo, QBE to be among the most active looking for “pieces”. I don’t see Lib Mutual adding to their portfolio here – unless they want to get a bigger chunk of the Workers’ Compensation pie. There will be many other bottom feeders, including Hank. (?)
Talk about corruption – who wants to lay odds that Liddy arranges “fire sales” to Allstate and then after the sale “unexpectedly” gets a great offer to be CEO of Allstate again… *good grief*
“Mark to Market’ accounting rules must be reviewed prior to asset sales by AIG or others holding paper on ‘performing’ loans. This single change will ease the ‘cash’ margin requirements of these artificially lowered assets and allow for the orderly evaluation of the strength or weakness of companies currently holding these assets. These performing assets which currently are artificially reduced should be ‘set aside’ to allow these ‘performing’ loans to work through the transition rules to provide protection to homeowners and not hinder the lender trapped by the ‘artificial’ valuation of these performing loans.
excerpts from a speech by Mr. Liveris, CEO, Dow Chemical Corporation
“I’m concerned that we’re in the midst of the greatest wealth transfer out of this country in history,” he said. “$500B billion plus (is) spent annually for foreign oil – and too few in Washington seem alarmed.”
Liveris broadly outlined elements of a policy that he said would improve the industrial economy in the U.S., saying such a plan would include lower corporate tax rates, a new regulatory framework and judicial reforms. It also would include what he described as a comprehensive energy strategy.
In light of current events in the Financial and Insurance Industry it is apparent that the current ‘Mark to Market’ Accounting rules/practices and other regulatory requirements currently in place are impacting the Finantial Industry and will further accelerate this transfer of wealth from the U.S and MUST be STOPPED.
Regulatory changes must be implemented immediately that are responsive to a changing business environment as a new ‘world economy’ emerges. Financial institutions, weakened by these regulations have come under attack by ‘short sellers’ and the downward spiral of artificially devalued assets has caused much of the distress these institutions are currently experiencing.
“A country can’t be strong abroad if it’s not strong at home.”
Look for Allianz, Tokyo, QBE to be among the most active looking for “pieces”. I don’t see Lib Mutual adding to their portfolio here – unless they want to get a bigger chunk of the Workers’ Compensation pie. There will be many other bottom feeders, including Hank. (?)
How about ACE?
I keep reading Liddy is there to sell assets. Who runs the place after the sale?
Talk about corruption – who wants to lay odds that Liddy arranges “fire sales” to Allstate and then after the sale “unexpectedly” gets a great offer to be CEO of Allstate again… *good grief*
Does NYC require a yard sale permit? Craig’s List?
Only if you have a lien on your house.
Has the brain drain began?