February 17, 2009
I have never begged for anything but here I go.
I am BEGGING the SEC stop using Mark to Market Accounting as it is destroying the balance sheets of almost all publically traded companies. Combined with the DOWN TICK RULE for shortsellers and we are going into a depression. A bad one.
If you do not return the uptick rule for shortsellers and go back to a Cost Accounting Rules GAAP Accounting for publicly traded companies we will soon fall off a cliff.
Have mercy on the people of this country and people aroun the world. Have some heart. These rules are destroying us.
What good comes from ruining peoples life simply so a few powerful people can use this to control every asset in the world and get it for nothing. I thought our government was set up to protect us from evil not allow evil people to destory us.