How to fix the economy!

"It is true that the root of this crisis is bad mortgage loans, but probably 70% of the real crisis that we face today is caused by mark-to-market accounting in an illiquid market." (Emphasis added) Forbes

Forbes also states:

‘Suspending Mark-to-Market Only the First Step to Economic Recovery: In the wake of today's vote, suspending mark-to-market is an extremely important first step to take, but it is only a first step.

…look at the impact of the Irish 12% corporate income tax on attracting investment and jobs to Ireland and consider a dramatic cut in the U.S. corporate income tax (the highest in the world when combined with state taxes) as a step toward attracting high-value productive and desirable jobs back to the United States.

…look at the Chinese and Singapore growth patterns and match them by zeroing out the capital gains tax to induce massive flows of private capital to rebuild the market and minimize the need for a taxpayer-funded bailout.

…repeal Sarbanes-Oxley Act, which failed to warn of every single bankruptcy but provides a $3-million-a-year accounting and regulatory expense for every small company wishing to go public.’

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Another culprit of the economic mess:

The Sarbanes-Oxley Act
and you can't blame this one on the Democrats!
It's a George W. Bush special!

‘A December 21, 2008 Wall St. Journal editorial stated, "The new laws and regulations have neither prevented frauds nor instituted fairness. But they have managed to kill the creation of new public companies in the U.S., cripple the venture capital business, and damage entrepreneurship.’ Wikipedia

Co-sponsor of the Sarbanes-Oxley act, Rep. Michael Oxley, R-Ohio, even remarked, "Frankly, I would have written it differently. ... Everyone felt like Rome was burning." International Herald Tribune You should read what President Bush told him.


DC