Yet more evidence of Government's incompetence

Last year companies clamored for revisions of "mark to market" accounting rules. Today, mark to market accounting is being eased. The stock market jumped hundreds of points.

Why wasn't this done a year ago, avoiding the crazy bailouts?

Stocks Extend Rally - WSJ.com:

"Stocks raced higher Thursday, boosted by an accounting body's decision to ease rules that force banks to write down their soured credit bets based on the most recent trades.

At about 12:40 p.m. Eastern, the Dow Jones Industrial Average was up 301 points, or 3.9%, at 8062.75. The blue-chip measure is poised to post a third straight gain."