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	<title>Norm’s Financial and Business Thoughts</title>
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		<item>
		<title>Disclosure, Not Destruction&#8211;Mark to Market Accounting</title>
		<link>http://normsfinancial.noralyn.com/2009/07/disclosure-not-destruction-mark-to-market-accounting.html</link>
		<comments>http://normsfinancial.noralyn.com/2009/07/disclosure-not-destruction-mark-to-market-accounting.html#comments</comments>
		<pubDate>Sun, 05 Jul 2009 04:00:00 +0000</pubDate>
		<dc:creator>Norm</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[AIG]]></category>
		<category><![CDATA[bailout]]></category>
		<category><![CDATA[economic crisis]]></category>
		<category><![CDATA[firesale values]]></category>
		<category><![CDATA[goverment bailout]]></category>
		<category><![CDATA[Mark to Market]]></category>
		<category><![CDATA[MTM]]></category>
		<category><![CDATA[norman e hill]]></category>
		<category><![CDATA[SEC]]></category>
		<category><![CDATA[wall street]]></category>

		<guid isPermaLink="false">http://normsfinancial.noralyn.com/2009/07/disclosure-not-destruction-mark-to-market-accounting/</guid>
		<description><![CDATA[Recent Development of Mark to Market Accounting Several years ago, I noted a press release about the appointment of a new Chief Accountant at the SEC. He was a retired partner from an accounting firm where I had also been a partner. At first, I thought this was a positive development. A top-flight accountant should [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Note to State Legislators</title>
		<link>http://normsfinancial.noralyn.com/2009/07/note-to-state-legislators.html</link>
		<comments>http://normsfinancial.noralyn.com/2009/07/note-to-state-legislators.html#comments</comments>
		<pubDate>Thu, 02 Jul 2009 04:00:00 +0000</pubDate>
		<dc:creator>Norm</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[accounting crisis]]></category>
		<category><![CDATA[AIG]]></category>
		<category><![CDATA[Big Banks]]></category>
		<category><![CDATA[Current Crisis]]></category>
		<category><![CDATA[economic crisis]]></category>
		<category><![CDATA[norman e hill]]></category>

		<guid isPermaLink="false">http://normsfinancial.noralyn.com/2009/07/note-to-state-legislators/</guid>
		<description><![CDATA[What State Legislators Can Do About Our Nationwide Crisis First, I realize there are many contributing causes of our problems: Imprudent mortgage lending. Overexposure to risky assets, such as collateralized mortgage and other obligations. Availability of Fannie and Freddie as crutches. Easy credit from the Federal Reserve Soaring gasoline prices during the summer of 2008, [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Will the Real Market Value Stand Up</title>
		<link>http://normsfinancial.noralyn.com/2009/06/will-the-real-market-value-stand-up.html</link>
		<comments>http://normsfinancial.noralyn.com/2009/06/will-the-real-market-value-stand-up.html#comments</comments>
		<pubDate>Sun, 28 Jun 2009 04:00:00 +0000</pubDate>
		<dc:creator>Norm</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[accounting crisis]]></category>
		<category><![CDATA[economic crisis]]></category>
		<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[norm thoughts]]></category>
		<category><![CDATA[norman e hill]]></category>
		<category><![CDATA[political]]></category>

		<guid isPermaLink="false">http://normsfinancial.noralyn.com/2009/06/will-the-real-market-value-stand-up/</guid>
		<description><![CDATA[Summary I endorse the view that our current &#8220;economic crisis&#8221; is actually, primarily, an accounting crisis. Apparently over the last year or so, a distorted view of market value calculations for the entire gamut of securitized investment financial assets has led to drastic writedowns of such assets by banks, insurers and other financial institutions While [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Market Values and Accounting/Economic Crisis &#8211; The Last Straw</title>
		<link>http://normsfinancial.noralyn.com/2009/06/market-values-and-accountingeconomic-crisis-the-last-straw.html</link>
		<comments>http://normsfinancial.noralyn.com/2009/06/market-values-and-accountingeconomic-crisis-the-last-straw.html#comments</comments>
		<pubDate>Thu, 25 Jun 2009 04:00:00 +0000</pubDate>
		<dc:creator>Norm</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[accounting crisis]]></category>
		<category><![CDATA[acounting]]></category>
		<category><![CDATA[economic crisis]]></category>
		<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[norman e hill]]></category>
		<category><![CDATA[political]]></category>

		<guid isPermaLink="false">http://normsfinancial.noralyn.com/2009/06/market-values-and-accountingeconomic-crisis-the-last-straw/</guid>
		<description><![CDATA[Background An advanced welfare state such as the U.S. is highly unstable. Numerous unfavorable, government-generated events in recent years greatly contributed to and increased the degree of instability in our economy. While some degree of correction seemed necessary, our economy possessed certain checks and balances which, for a time at least, should have allowed such [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Economic/Accounting Crisis Update</title>
		<link>http://normsfinancial.noralyn.com/2009/06/economicaccounting-crisis-update.html</link>
		<comments>http://normsfinancial.noralyn.com/2009/06/economicaccounting-crisis-update.html#comments</comments>
		<pubDate>Wed, 24 Jun 2009 04:00:00 +0000</pubDate>
		<dc:creator>Norm</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[accounting crisis]]></category>
		<category><![CDATA[bailout]]></category>
		<category><![CDATA[economic crisis]]></category>
		<category><![CDATA[firesale]]></category>
		<category><![CDATA[Mark to Market]]></category>
		<category><![CDATA[noralyn]]></category>
		<category><![CDATA[norman e hill]]></category>
		<category><![CDATA[SEC]]></category>

		<guid isPermaLink="false">http://normsfinancial.noralyn.com/2009/06/economicaccounting-crisis-update/</guid>
		<description><![CDATA[Recently, I wrote about the current economic crisis, stating that it was primarily caused by bad accounting, that is, from SEC imposition of fire sale accounting to temporarily illiquid balance sheet assets not permanently impaired. The newly passed Senate Bailout Bill includes a provision calling on the SEC to investigate mark to market accounting. However, [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Economic Crisis is Really an Accounting Crisis</title>
		<link>http://normsfinancial.noralyn.com/2009/06/economic-crisis-is-really-an-accounting-crisis.html</link>
		<comments>http://normsfinancial.noralyn.com/2009/06/economic-crisis-is-really-an-accounting-crisis.html#comments</comments>
		<pubDate>Mon, 22 Jun 2009 04:00:00 +0000</pubDate>
		<dc:creator>Norm</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[AIG]]></category>
		<category><![CDATA[Fair Value Accounting]]></category>
		<category><![CDATA[FASB]]></category>
		<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[OFC]]></category>
		<category><![CDATA[Paulson]]></category>
		<category><![CDATA[SEC]]></category>

		<guid isPermaLink="false">http://normsfinancial.noralyn.com/2009/06/economic-crisis-is-really-an-accounting-crisis/</guid>
		<description><![CDATA[We urge you to write a letter like the one I show below to your Senator and Crongressman. We urge you to reject the administration&#8217;s bailout program for financial institutions. The current crisis is not a true economic crisis, but rather a crisis generated by bad accounting, which has then spread to the economic system. [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Trial Balloon re Gov&#8217;t Confiscation of Private Retirement</title>
		<link>http://normsfinancial.noralyn.com/2009/06/trial-balloon-re-govt-confiscation-of-private-retirement.html</link>
		<comments>http://normsfinancial.noralyn.com/2009/06/trial-balloon-re-govt-confiscation-of-private-retirement.html#comments</comments>
		<pubDate>Sat, 20 Jun 2009 09:06:00 +0000</pubDate>
		<dc:creator>Norm</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[accounting crisis]]></category>
		<category><![CDATA[acounting]]></category>
		<category><![CDATA[economic crisis]]></category>
		<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[norm thoughts]]></category>
		<category><![CDATA[norman e hill]]></category>
		<category><![CDATA[political]]></category>

		<guid isPermaLink="false">http://normsfinancial.noralyn.com/2009/06/trial-balloon-re-govt-confiscation-of-private-retirement/</guid>
		<description><![CDATA[Proposal, Testimony or Trial Balloons at House Education &#038; Labor Committee to set up &#8220;Universal Pension Plan,&#8221; Meaning Confiscation of $3 Trillion Private Retirement Accounts. This horrifying disclosure was made in the Accuracy in Media issue of 2 3 09. Apparently, testimony occurred sometime in 2007. Currently, this discussion seems very general, without any specific [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Developments in Mark to Market Accounting</title>
		<link>http://normsfinancial.noralyn.com/2009/04/developments-in-mark-to-market-accounting.html</link>
		<comments>http://normsfinancial.noralyn.com/2009/04/developments-in-mark-to-market-accounting.html#comments</comments>
		<pubDate>Sun, 26 Apr 2009 21:19:00 +0000</pubDate>
		<dc:creator>Norm</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[economics]]></category>
		<category><![CDATA[financial crisis]]></category>
		<category><![CDATA[mark to market accounting]]></category>
		<category><![CDATA[norman e hill]]></category>
		<category><![CDATA[winner and final chairman]]></category>

		<guid isPermaLink="false">http://normsfinancial.noralyn.com/2009/04/developments-in-mark-to-market-accounting/</guid>
		<description><![CDATA[Recent Development of Mark to Market Accounting Several years ago, I noted a press release about the appointment of a new Chief Accountant at the SEC. He was a retired partner from an accounting firm where I had also been a partner. At first, I thought this was a positive development. A top-flight accountant should [...]]]></description>
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		<slash:comments>0</slash:comments>
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