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Wall Street Breakfast: Must-Know News [View article]
Market value is what the market is willing to pay. If the government tells you, or allows you to state that your House is worth $500,000, yet no one is willing to pay more than $300,000... then you're house is worth $300,000. Of course, if YOU perceive it to be worth more, than don't sell it. But the Market perception will still be that it's worth $300,000, and rescinding mark to market isn't going to make your house worth more. That applies to ANY asset.
If rescinding 'mark to market' would have any effect, then McDonalds should just change its dollar money to a $50 menu instead. It'll make 50x more money, right? Of course, like your rant, that's at best wrong and at worst absurd.