Lost in all the talk of stimulus boondoggles is one important piece of news; the Administration is reportedly set to suspend mark-to-market rules. Iain Murray has been worrying that the market rally that will follow will be taken as a endorsement of the stimulus disaster. So a minor piece of good news is the Senate’s cloture vote is scheduled for 5:30 pm Monday; too late for it to take credit for anything that happens on the stock exchanges that day.
UPDATE: I should have seen this coming. The announcement has been pushed back to Tuesday.
UPDATE: Never mind. No announcement on mark-to-market after all.
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