The Daily Bail Takes To The Airwaves: Liberty Radio Network's 'What Really Happened' Tonight At 9 pm EST

Michael Rivero runs the independent news blog What Really Happened. He has a nightly radio show on the Liberty Radio Network, and I will be a guest this evening beginning at 9 pm EST.

The list of radio stations where you can listen live is here.

And the link to listen live over the internet is here.

CALL IN NUMBER 866-986-6397 (866-986-NEWS)  Outside the US & Canada, 801-492-6908

We will be discussing the economy, the markets, and likely mark-to-market accounting given today's news.

No time to write about today's MTM developments yet, so for now read this outstanding piece by Bloomberg's David Reilly.

It's the article being quoted by everyone to explain why MTM accounting need NOT be changed: because the banks already do NOT use MTM accounting for the great majority of their assets.

I have been saying for weeks that the solution is regulatory capital forbearance.  I have also been linking to this discussion of MTM and regulatory capital levels by Jim Chanos that I feel is especially helpful.  View the 2nd Chanos video for the MTM discourse.

Now Warren Buffett is championing the concept of regulatory forbearance as an alternative to changing the MTM rules as written in today's Wall Street Journal.

Comments

[Geneva_Protocol]

Good luck tonight. Will try to listen and maybe even surprise you with a call.

[jules]

I look forward to your post on mark to market later. I am shocked it is being taken seriously-the concept of suspending it I mean.

I'll be listening tonight.

[Kansas is fucked]

David Reilly is right.

DO NOT change MTM accounting. It will just be the start to their plans of obfuscation.

[Comrade Dope]

Congrats. Good luck tonight. Make sure you talk about AIG. Don't let that puppy escape from your list of victims.

[Genevieve]

Thanks for the heads up. I will definitely be tuning in. Very curious to hear what you have to say after reading the site for awhile now.

[Genevieve]

And talk about Geithner and Paulson and their role in this crisis. They deserve as much scrutiny as possible.

[Inside the Buy-side Bail]

Here kitty, kitty, kitty. Here kitty, kitty, kitty. Here kitty, kitty, kitty...BOING.

Additionally, from the inside, as someone that is sometimes required to justify month-end prices to both the Chief Accounting Officer and to the regulators, do not suspend MTM.

Temporary and transparent capital forbearance perhaps.

[Inside the Buy-side Bail]

Here kitty, kitty, kitty. Here kitty, kitty, kitty. Here kitty, kitty, kitty...BOING.

Additionally, from the inside, as someone that is sometimes required to justify month-end prices to both the Chief Accounting Officer and to the regulators, do not suspend MTM (I don't mean Mary Tyler Moore).

Temporary and transparent capital forbearance perhaps.

[Jules]

Very well done. I'll bet within 6 months you will have your own show.

Nice answers on a wide variety of subjects.

[DBailer]

Missed it, tragically. You got a link to a podcast or something?

[DailyBail]

I will put up a podcast as soon as they make an archive available.

You honestly didn't miss too much. I was on for the full hour and it was a wide ranging discussion of the markets, the national debt and the bailouts.

I will have to wait to hear it myself before I give my opinion. Radio is strange when you are participating over the phone. You can't see the host and it's all based on auditory cues with a 2 second delay.

[bank_holiday]

I listened to the archive tonight. Great job. Your comments on leverage and Citigroup were animated to say the least.