Archive for September, 2008

The much maligned accounting principle of “mark to market” accounting has received an important clarification today from regulators at the SEC.

“When an active market for a security does not exist, the use of management estimates that incorporate current market participant expectations of future cash flows, and include appropriate risk premiums, is acceptable.” source

FASB 157 came [...]

“Sen. Obama, you dismissed your association with William Ayers by stating that his actions, while “despicable”, occurred when you were just eight years old. Ayers was still a fugitive when another terrorist bomber, Ted Kaczynski (the “Unabomber”) began his bombing campaign (btw — Senator, you were 20 at the time). Would you have had any [...]

“Senator Obama, you distinguished yourself from your Democratic rivals in the primary season as having better judgment because you opposed the war in Iraq in 2002. Knowing what we know now about Saddam Hussein from the independent Iraq Survey Group (Dulfer) Report — that he had the capability to produce chemical weapons within three to [...]

from Chicago Sun-Times
A $100,000 state grant for a botanic garden in Englewood that then-state Sen. Barack Obama awarded in 2001 to a group headed by a onetime campaign volunteer is now under investigation by the Illinois attorney general amid new questions, prompted by Chicago Sun-Times reports, about whether the money might have been misspent.
The garden [...]

Text of Speech:
THE PRESIDENT: Good evening. This is an extraordinary period for America’s economy. Over the past few weeks, many Americans have felt anxiety about their finances and their future. I understand their worry and their frustration. We’ve seen triple-digit swings in the stock market. Major financial institutions have teetered on the edge of collapse, [...]