I want to give you a heads-up on three points that I will write about in the future, but are relevant right now.
* The first and most
important comes from Gordon Crovits in Monday's Wall Street Journal.
Gordon reports that in the uproar caused by Google's announcement that
they will no longer censor Google searches, it was the Chinese
government that suggested a multi-face-saving option. Google took that
option and has moved their search engine operations to Hong Kong.
Three cheers for Sergey Brin, a true American, who knows Russian censorship and tyranny.
Four cheers for China. China knows that over the long term it needs good relations with American entrepreneurs,(forget the hostile Democrats) the source of much commercial innovation in the world. (Other sources include Japan and Israel).
* The second was an announcement by ancient Congressman Henry Waxman that he will cross-examine three major corporations, later in April, because they charged-off several $ billion on their balance sheets due to future costs of ObamaCare. The charge-offs are mandated by FASB (Financial Account Standards Board) and enforced by the SEC (Securities and Exchange Commission). This is an ugly act of politics that justify high CEO wages. Waxman is being particularly ugly. (See photo above.)
* The third notice is that the very same FASB is considering ways to bring back 'mark to market' for banks. You may recall that in an earlier blog, more than a year ago, I identified mark-to-market as a prime force in the financial melt down. We need to keep our eyes open and follow this matter.