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Politics : PRESIDENT GEORGE W. BUSH
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To: goldworldnet who wrote (678290)4/5/2005 3:33:18 PM
From: DuckTapeSunroof  Read Replies (1) of 769670
 
"There was a lot of money looted in the 90's...."

In my pantheon of evil-doers who made the bubble and subsequent collapse inevitable, I assign primary positions to Senators Breaux, Lieberman, and a few others --- who were responsible for PREVENTING the accounting reform efforts in the early nineties lead by Greenspan, Authur Levitt (SEC Chairman), the FASB, Clinton's Treasury head Rubin, etc., etc.

There would have been no bubble and thus no bubble collapse if the reforms had passed.

(I don't blame the companies so much --- when the government allows you legally to create fake earnings, *and* to take a tax deduction for expenses you don't have to show as expenses on your annual statements to the shareholders... a company would have to be crazy to NOT use the smoke and mirrors tricks that the government has authorized.)
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