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Strategies & Market Trends : Rande Is . . . HOME
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To: maverick61 who wrote (41900)11/22/2000 2:32:03 AM
From: Jet.Screamer  Read Replies (3) of 57584
 
It will be over by monday because the U.S. Supreme Court won't touch it. The basis for ending up in federal court is absent.
The decision was no surprise for the market if you watched how the averages moved when the attorneys for both sides spoke. While the Gore attorneys spoke the market recovered and continued doing so for the 10 minute break. When the Bush attorneys spoke it started to tank. Had the Bush attorneys done better in front of the court the market would not have gone down as much as it did. However in defense of them they were in a no win position. Their only legal argument was that one statute set a definitive deadline and conflicted with another statute. I seem to recall from law school that when there are two statutes that can conflict in some situations the court will try to interpret them in a manner that gives both legal validity.
Perhaps if Bush had enough confidence in his position before the State court he would not have dragged it into federal court which reveals that this decision is no surprise to Bush either.

BTW-Although I do not like how this is affecting the markets this is a well reasoned and well thought out decision that would not have resulted if the Florida Legislature did a more competent job. Also one who gives money to a candidate and one who campaigns for a candidate are not comparable.

jon
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