PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: CYBERKEN who wrote (270058)	7/4/2002 3:04:21 PM
From: DuckTapeSunroof	Read Replies (1) of 769667

HA!!!!! Re: "The general winking and smiling about the intense Clinton corruption brought about the current round of corporate scandals." >>> Pretty funny historical revisionism there Ken! You must have been a Soviet-trained historian! >>> It's very clear that - for fraudulent financial cons and rip-offs of the tax paying public - nothing in modern history has approached the MAGNITUDE of the scams from the 8 years of Reagan, and the 4 years of Bush the First. >>> The half Trillion $ S&L bailout (Resolution Trust), the junk bond escapades, not to mention other notables such as Iran/Contra side deals (really, petty change by comparison) collectively set the standard for massive corporate fraud in America.... and we will still be paying off that fraud for another 20 years: publicampaign.org >>> The current financial scandals haven't even come close yet in dunning the taxpayers.... Re: "We learn the lessons of history-despite the villains' attempts to revise it..." >>> You got that right! (And, of course, to be FAIR we must spread the credit out to the responsible parties. Despite Clinton's SEC Chairman Levitt's passionate campaign to tighten up ACCOUNTING STANDARDS and force corporate America to itemize stock options as EXPENSES... Congressional members of BOTH PARTIES [Gramm AND Liberman among many others] nixed the needed reforms - and practically guaranteed our current crisis. >>> Perhaps if Congressmen and Senators were not so in thrall to the sources of their campaign contributions we might have prevented this mess, or at least have a chance to rapidly work our way out of it now. >>> But Bush's SEC head Pitt is a lapdog to the accounting industry big-spenders... unlike the lion that Levitt was... and Congress is still in thrall (not even looking at requiring the expensing of options, the absence of which is the carrot that got us into this mess), so don't hold your breathe for a quick resumption of Happy Days. >>> But check your facts: 8 years of Reagan ran up a corporate-scam bill for the taxpayers to pay off that 8 years of Clinton couldn't dream of touching.... (And that just counts the CORPORATE scams. The FEDERAL DEFICIT run up during the same period makes even the 1/2 Trillion $ S&L fraud look like a minnow!)

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