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.