PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: bonnuss_in_austin who wrote (275797)	7/15/2002 11:48:00 PM
From: Karen Lawrence	Read Replies (2) of 769667

bonnuss, you mentioned something to the effect of market manipulation to rebound the market today. here's an interesting post by nofreewill over at raging bull. What do you think. I think, nevertheless, corporation CEOs are beyond greedy: cowdog, maybe because there is no real corruption when the corporations were only doing what was expected of them BY Wall Street--you know how Wall Street is very forceful in punishing those that don't make them happy. These executives who we are trying to blame were only trying to make Wall Street happy--then Wall Street turned on them and left them to the vulture capitalists --> the HEDGE (hog) funds. We discussed how the hedgefunds TOO put downward pressure on stock prices by short selling the techs to a point where the good-guy bullish mutual funds were required as a rule to sell certain stocks that fell below a certain price. With the hedgfunds selling SHORT and the mutual funds just plain SELLING, it is no wonder that companies had to take on more debt to finace their operations(albeit overpaid salaried operations--but business nonetheless) and as such put them in the precarious position of being singled out for our good messenger friends Standard and Poor's and Moody's downgrades of their corporate debt--which of course led to analysts further downgrading stocks and thus more selling. The people running the corporations were like hot potatoes tossed around between the real culprit nodes, these CHECKS in the system(the banks the hedgefunds and credit rating agencies--the good the bad and the ugly as I call them). We ought to redirect the war on (financial) terror to the offshore (non-U.S.) hedgefunds which took advantage of destroying our stocks beyond reasonable levels (I don't care if PE is still too high, because the financial well-being of investors was marred--IF that doesn't matter, then WHY is there an investigation into what happened to shareholders' monies and employees' pensions these days?). Oh but they are outside the reach of U.S. regulation. Too bad, right? Well, then they should be barred from trading or investing in U.S. based stocks. We have plenty of institutions here in the U.S. that can make markets on U.S. stocks without having to include these foreign leeches. Oh, but the party that Bush runs in likes free trade with the world and the wealthy institutions of America like to invest in emerging markets which they then feel is only feel to reciprocate the favor by letting foreigners invest in our markets. Fine. Then don't put anyone in jail and drop this silly investigation of corporate America and just brush off the bear market as a lesson for investors and employees--let the buyer beware (and worker too) caveat emptor. Welcome to the 21st century. Everyone is on their own. Temp-ing is the employment wave of the future? Don't expect to have a job for too long-- competition you know. Take care of your own retirement--don't rely on the government and especially not the company. Unless the company guaranteed retirement as it went bankrupt--there is no case.

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