A Common Sense Fix ........................

[gmjunkie]

So why won't this work??

Oh..........I forgot. The words "Common Sense" and "Government" never seem to go together.

[Coastal]

I agree with most of this.
I would remove mark to market completely, not just temporary. In fact, I would probably do away with the whole Sarbanes Oxley overreaction to Enron.

It costs the banks about $60K to foreclose on a house but they are too stupid and overwhelmed to act proactively. Florida must have thousands of offers to purchase short sale homes but the banks don’t know what to do so they do nothing. In the long run they lose more money for themselves and the homeowner.
They could have a house worth $100K with a $90K mortgage in default but do nothing when they get an offer for $80K in a short sale. Then after foreclosure that cost them $60K they sell it for $50K. Then, because of mark to market, they have to revalue all the current homes in that neighborhood to reflect the comp of the $50K sale. Killing their asset value and destroying the other home owners. All brought on by our gobmint regulation. But all the gubmint says is we need more regulation because of evil capitalists, never their own failures.

The only remedies the beltway bandits know to any problem is throwing our money at it and blame it on the other team when it doesn’t work vowing to throw more of our money to really fix it after they add more regulations.

[JIM KILL]

Border Issues

A guy was traveling through Mexico on vacation when, low and behold, he lost his wallet and all identification.

Cutting his trip short, he attempted to make his way home, but was stopped by a Mexican Customs Agent at the Tijuana border.

"May I see your identification, por favor, señor?" asked the agent.

"I'm sorry, but I lost my wallet," replied the guy.

"Si, amigo, I hear that every day. No ID, no crossing the border," said the agent.

"But I can prove that I'm an American!" he exclaimed. "I have a picture of Bill Clinton tattooed on one butt cheek and a picture of Hillary Clinton tattooed on the other."

"This I must see," replied the agent. With that, the American dropped his pants and bent over in front of the agent.

"Jesus, Mary, and Joseph, you're right!" exclaimed the agent. "Have a safe trip back to California, Senor."

"Thanks!" he said. "But why do you think I'm from California?"

The agent replied, "I recognized Nancy Pelosi in the middle!"

[98 softtail]

GMjunkie for Congress.