Good News for Investors

Finally, we have some good news for investors. Robert Herz has resigned from the FASB (Financial Accounting Standards Board). Why is that important? He and his cronies were responsible for pushing the economy off the cliff with their experimental mark-to-market regulations that made it impossible to bring companies like Lehman and AIG back from the brink. The repeal of mark-to-market in 2009 was the single biggest factor in the recovery we've seen in both the stock and bond markets. This is part of the Political Common Sense for America series.

Racial and Gender Hiring Quotas

Dodd and Frank once again slide a special interest rider into a mega bill. Section 342 of the new Wall Street Reform and Consumer Protection Act imposes both gender and racial employment quotas on the financial services industry. This will cost taxpayers over $58M annually and companies over $4B annually. It's also racial and gender bigotry. The is part of the Political Common Sense for America series.