Thursday, October 2, 2008

Grand Daughter Birthday

Our oldest grand daughter turned five yesterday, and today was birthday at grandma's house. A special day that she and Loyce enjoyed together. Oh and grandpa got to tag along to drive the car and pay the bills.

At least I got to go, they could have declared it a girls day and I would have been outed.

Loyce went over an got her this morning, so she didn't go to school. (Preschool) She had a big doll house waiting here that was tucked in the basement for some months waiting for the day.

Loyce always wanted a doll house when she was small, but the preachers family was not able to provide things like that. She is one of seven kids, and they did quite well considering, but when you are a little kid, you can't understand when the rich kid next door has everything.

By 11 or so we went to the bank, and then to McDonalds in Gardner, Ks. We had the big McNugget happy meal. Then off to the Pumkin Patch South of town.

They spent about 2 hours in the patch, while grandpa went over and looked at used Motor Homes at the RV center accros the road. They played and I dreamed. The asking prices for the RV's do not seem to reflect the down turn in the market. They are not desperate to sell anything there.

We then went to the butcher shop in Spring Hill, Ks. We needed some burger, but also bought six thick Iowa style pork chops for our get together on Saturday. A cookout is planned for the ongoing birthday bash.

Tonight, we let the grand daughter convince us to go to Chuck E Cheese for pizza. The pizza there is about awful, and she doesn't like it much either, but running around and putting the tokens in all the games is the big attraction. 50 tokens is $10. We stayed until almost 8 PM. The place was clearing out by then.

She is up stairs wiped out, asleep. She hit the pillow and was gone instantly. Big day with grandma.

I have been reading and studying the Senate version of the Troubled Assets Recovery Program TARP. It was 110 pages in the house and was rejected. It is now over 450 pages in the senate and contains every Income Tax Revision and pet project enhancement possible, to get votes from anyone and everyone. This thing is now a really big stinker. Go read thing and be amazed. Click Here

I just read that it has passed the Senate by 74 yea and 25 nay. I couldn't find Grassley's vote, so maybe he abstained.

This has the provision in it to suspend FASB 157 Mark to Market provisions. By doing that, companies can now value their assets without any rules. This is what got Enron into so much trouble.

If banks are not forced to write down their troubled assets, then their balance sheets are not worth the paper they are written on. My accounting career is spilling out here so I had better stop before I get into big trouble. Needless to say I don't agree.

No comments:

Post a Comment

Anonymous comments had to be eliminated.... For the most part this has removed unwanted responses.. If you can't post your comments, please email me and we will make other arrangements...