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Four Steps to Economic Recovery

Tech Ticker 25 February 2009 No Comment

Suspend mark-to-market accounting: Critics say suspending mark-to-market accounting would reward banks for their bad behavior, and send a message that toxic assets are merely “temporarily” depressed vs. permanently damaged. Supporters say it will give the banks “breathing room” to sell those assets at something other than rock-bottom prices. Najarian does believe Secretary Geithner will announce an at least temporary suspension of mark-to-market sometime in 2009, spurring a huge rally in beleaguered bank stocks. (Personally, I think the government should put insolvent banks into receivership; but since it appears that’s not in the cards, suspending mark-to-market makes sense in order to give banks some balance sheet relief and get more bang for out bailout bucks.)

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