Limbaugh, Apr '09 - finally addresses stock market

OK he's finally begun the spin on why the market is up "265 points" (it was in fact, up 265 at mid-day, on the day he made this statement)

He 'blames' the rise in the market - again, only mentioning the 265 point rise, not the 1200+ point it has risen from March 9 to March 31 - on the easing of 'mark to market' accounting practices (http://en.wikipedia.org/wiki/Mark-to-market)

While this may be bullish for the market today, the market rise started March 9. The FASB did not vote until Arpil 2 on a proposal "allowing companies to use more leeway in valuing their assets under "mark-to-market" accounting, a move that could ease balance-sheet pressures many companies say they are feeling during the economic crisis".

So, RL continues to ignore that the market has risen over 1200 points (almost 20%) in 4 weeks. He only addresses a one day, 265 point bump that might be attributed to a vote to relax accounting regulation.

Yet on his show he made the argument that the only reason the market is up is because of this 'artificial' regulatory.

Oh OK, he is changing his story even as I listen .. He now also claims that the market loves it when Obama is out of the country. " The market is going crazy .. the only difference is that Obama is out of the country today". "If Obama would announce that he'd stay out of the country for an entire month, the market would skyrocket".

Again .. he completely ignores the fact that the market rose +1200 pts in March, and I'm quite sure Obama was in the US most, if not all, of March '09

RL is so full of BS