Could be big either wayhttp://finance.yahoo.com/news/New-push-against-accounting-apf-14570549.html
This weekend huh?This would cause a huge spike if passed and even the rumour of it passing would cause movement.CSPAN all weekend
Who said this weekend?"And a key House panel has scheduled a hearing next week to explore problems facing so-called mark-to-market accounting amid the ravages of the global financial crisis."
I think the Govt is looking at all its options to make the banking system work, or to unfreeze the credit markets.One idea is to nationalize some of the bad banks, while this may work it seems to be a last resort option that the govt does NOT want to do.Acctg changes will be looked at first, and quickly before taking the next step. IMO this rule will change soon.Peace!