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From the misty hills of Virginia, a pastor/ graphic designer/scooter-driver, seeks to encourage you on your journey through a blend of humor, tech, insight, and faith discovery.

FROM THE ARCHIVES: The Clutter-Free Campaign

Posted By Jeff on August 19th, 2008

Sunday night was the last night of freedom for the kids before school started. We had a dual-purpose family meeting in the living room. One of the purposes was to spend time in prayer with the kids, commissioning them, so to speak, to be representatives of their Lord, our church and our family at school [...]

 

Posts Tagged ‘taxes’

SEC adopts (partially) mark-to-market fix

Posted By Jeff on October 1st, 2008

The SEC stepped in today and eased or clarified the mark-to-market lending rules. This has the immediate effect of freeing up credit for businesses and individuals. Doing so cost the taxpayers nothing. While they didn’t suspend it entirely, they have, by clarifying the rule, given the industry some breathing room.

Even with this action today, the Senate still seems intent on spending $700 billion dollars of taxpayers’ money! Outrageous. This MTM solution was partially proposed by Dave Ramsey (and many others have suggested the same thing) yesterday in his Common Sense Plan, item II:

MARK TO MARKET 

a. Remove mark to market accounting rules for two years on only subprime Tier III bonds/mortgages. This keeps companies from being forced to artificially mark down bonds/mortgages below the value of the underlying mortgages and real estate.  

b. This move creates patience in the market and has an immediate stabilizing effect on failing and ailing banks—and it costs the taxpayer nothing.  

Powerline says, “If revision of the mark to market rule has as much impact on credit markets as many have predicted, it may strengthen the resolve of those who think there are better solutions to the problems in our financial markets than a $700 billion bailout.” See the article here.

Please call your U.S. Senator on Wednesday and encourage your friends and family to do the same.

Arkansas Senators:

  • Mark Pryor (877) 259-9602 (Toll Free from Arkansas)
    D.C. Office (202) 224-2353
  • Blance Lincoln 800-352-9364
    D.C. Office (202) 224-4843
Posted in Goin' to Town
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