Enronizing America

The idiotic Republicans have succeeded in getting agreement to drop the "mark to market" accounting rules, thus allowing banks to lie openly about their financial conditions. Talk about putting lipstick on a pig. This stunt does nothing to strengthen the financial position of the banks, it only camouflages their weaknesses and obscures the truth. But the Republicans will do anything to preserve the false ideology of "free markets." They hope disguising the truth will allow insolvent banks to pretend to solvency and, as long as nobody asks any tough questions, things will sail along smoothly (think Palin).

Unfortunately, the Dems caved one more time on this.