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To: James Strauss who wrote (11258)	7/11/2002 5:45:33 PM
From: Bucky Katt	Read Replies (2) \| Respond to of 13094

A city boy, Kenny, moved to the country and bought a donkey from >an > >old farmer for $100.00. The farmer agreed to deliver the donkey the next > > > >day. The next day the farmer drove up and said, "Sorry son, but > >I have some > > > >bad news, the donkey died." > > > > > > >> > > Kenny replied, "Well then, just give me my money back." > > > > >The farmer said, "Can't do that. I went and spent it already." > > > > >Kenny said, "OK then, just unload the donkey." > > > > > > >> > > The farmer asked, "What ya gonna do with him?" > >> > > > >> > > Kenny, "I'm going to raffle him off." > >> > > > >> > > Farmer, "You can't raffle off a dead donkey!" > >> > > > >> > > Kenny, "Sure I can. Watch me. I just won't tell anybody he is >dead." > >> > > > >> > > A month later the farmer met up with Kenny and asked, "What >happened > > > >with that dead donkey?" > > > > > > > > > > Kenny, "I raffled him off. I sold 500 tickets at two dollars a >piece > >and made a profit of $898.00." > > > > > > >> > > Farmer, "Didn't anyone complain?" > >> > > > >> > > Kenny, "Just the guy who won. So I gave him his two dollars back." > >> > > > >> > > Kenny grew up and eventually became the chairman of Enron.

To: James Strauss who wrote (11258)	7/11/2002 5:56:23 PM
From: Bucky Katt	Read Replies (1) \| Respond to of 13094

Jim, since housing hasn't tanked yet, I get the feeling when it dies it just might get ugly. The reasoning is simple, if, and it is a big if, things get real bad here in the US, will people walk away from their mortgages if the value of the secured property dips below what they owe? I have a term for it, "mortgage margin calls" Ahh, Mr. Joe Six-Pack,? this is Pudgy Smith from down here at the Money Store, and we have a problem. The value of your house has dipped 40% less than the amount you owe us, so unless you can come in and make up the difference, we have no choice but to begin foreclosure proceedings.......... ___________________________________________ As for tax loss selling, I think we have already seen something worse, fear....