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Politics : PRESIDENT GEORGE W. BUSH
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To: jackhach who wrote (399102)4/25/2003 2:51:54 PM
From: Mark Konrad   of 769670
 
Thanks, Jack, I tend to agree with much of what you just wrote, too. I do indeed remember that era fairly well; my best friend's wife was one of the auditors for both Columbia S&L and Lincoln S&L (she's now retired in the Northwest).

According to her, one of the main problems was the FDIC/FSLIC regulations which made it possible, even preferable, for bank managers to "hide" behind an essentially insolvent government insurance policy as a means to lure depositors' money. Conservative banking practices were thrown out the window; nothing mattered if the government was going to guarantee deposits anyway. In hindsight, the domino-effect of toppling banks should have been easy to predict.

Defense spending is a nasty beast at best. I'd like to think of it as a balloon that expands and contracts as needed but it's as horrific as any bureaucracy to tame and put back in its cage. Unfunded entitlements and runaway social spending are even worse, imo, and that's where the "devil-in-the-details" will prove to be. I can say I admire certain things about GW but I certainly don't envy him for the tasks ahead.

I don't know if you're correct about Gore, though. A move farther left might have picked up Green support but might also have cost central support. That will be debated and chewed on forever.

The center is indeed crowded; way too much "me-too-ism." The old adage, "When you stand for everything you stand for nothing" might be a reasonable campaign slogan for '04. Whoever uses it owes me a royalty!--MK--
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