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To: Paul Kern who wrote (65081)	9/23/2008 7:52:30 PM
From: Keith Feral	Read Replies (1) of 118717

I'm just thinking of a free way to accomplish mark to maturity accounting. $700 billion seems like an awfully expensive replacement to a simple accounting change. We could wipe out all of the negative marks with 1 revision by the SEC. Then, the Treasury would only have to recapitalize the limited number of banks that were hurt by the elimination of GSE capital. I would love to see Congress take the new leadership on these changes and demand SEC reform to FASB rules before they commit any money. Once the banks reverse their paper losses and start paying some taxes, let's really see if anyone actually needs capital. This is the most irresponsible waste I have ever seen.

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