The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: portage who wrote (9934)	3/23/2003 9:13:47 PM
From: edward miller	Read Replies (2) of 306849

You need to get your facts right. The crisis hit before Bush was even in the Whitehouse. Crisis was already a full-blown disaster before January 2001, or did you just conveniently forget that after the election Clinton was still in charge? I see a lot of that kind of "logic" when people let their politics supercede the facts. There was clear evidence a year before that the broken dereguation system in California was indeed broken. Davis did nothing with this knowledge except to demonize the very California businesses that were stuck with it as well as the independent power producers. He could have stepped in before the real disaster hit and got the state to do what they ended up doing much too late - buy longterm contracts for energy to avoid the spot market. As the leader of the state, once a problem is obvious, the governor has the responsibility to step in to protect the citizens and businesses of the state. He did nothing for a year and let the problem fester for the grandstanding opportunity. Davis is a disaster for California. I am glad I no longer live there.

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