Rep. Sara Gagliardi, D-Arvada, my state representative, earned the special distinction of having a bad legislative idea dismantled by the fair-minded editors of the Rocky Mountain News:Perhaps the best thing that can be said about the American Dream Protection Act of 2008, due to be introduced in the legislature at any time, is that it's not likely to be as bad as many of its counterparts under consideration in other states - and in Congress. Unlike those other measures, Colorado's bill addressing home foreclosures, by Rep. Mark Ferrandino, D-Denver, and Sara Gagliardi, D-Arvada, would not require substantial public subsidies. Nor would it place taxpayers on the hook for a massive bailout if the credit crunch intensifies. That said, … [Read more...]