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Politics : Al Gore vs George Bush: the moderate's perspective -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (1923)	10/10/2000 10:08:06 AM
From: Hawkmoon	Respond to of 10042

You're about as rightwing as they come, pal. And you can blame it on Bubba and Bore Jr.... And there is no indication that US govt participation actually saves money in healthcare. Fully 50% of healthcare is paid for by governmental money and costs have only increased. It is hardly likely that costs will be curtailed with 100% control over it... If fact, waste, fraud, and abuse will likely only increase since the bigger the program, the lower the degree of fiscal accountability. If you doubt this, look at the newly released information on the Dept of Agriculture, which reported cannot account for fully $5 BILLION in spending over the past 10 years (effectively the period under the Clinton/Gore administration). They were so poor in their accounting that reportedly one of their vehicles was carried on their books as an asset that was worth $90 million dollars. And in another incidence of fraud, money from the soil conservation budget was illegally shuffled to some "re-beautification" program that wound up paying graffiti artists to perform their "art" on privately owned buildings.. They're actually good people but they are desperate for power This strikes me as oxymoronic. I'm not saying that either candidate are angelic, but it is Gore who is desparate for power as has been shown by his and bubba's penchant for BLATANT, IN YOUR FACE, influence peddling, even to the communist Chinese. And btw, the S&L act was NOT Reagan's fault. It was the fault of congress, who in desiring to preserve the S&L sector in an increasingly competitive banking sector, permitted them to reduce their capital requirements in order to compete against other lending institutions: fdic.gov 1980-1982 Statutory and regulatory changes give the S&L industry new powers in the hopes of their entering new areas of business and subsequently returning to profitability. For the first time, the government approves measures intended to increase S&L profits as opposed to promoting housing and homeownership. March, 1980--Depository Institutions Deregulation and Monetary Control Act (DIDMCA) enacted. The law is a Carter Administration initiative aimed at eliminating many of the distinctions among different types of depository institutions and ultimately removing interest rate ceiling on deposit accounts. Authority for federal S&Ls to make ADC (acquisition, development, construction) loans is expanded. Deposit insurance limit raised to $100,000 from $40,000. This last provision is added without debate. November, 1980--Federal Home Loan Bank Board reduces net worth requirement for insured S&Ls from 5 to 4 percent of total deposits. Bank Board also removes limits on the amounts of brokered deposits an S&L can hold. August, 1981--Tax Reform Act of 1981 enacted. Provides powerful tax incentives for real-estate investment by individuals. This legislation helps create a "boom" in real estate and contributes to over-building. September, 1981--Federal Home Loan Bank Board permits troubled S&Ls to issue "income capital certificates" that are purchased by FSLIC and included as capital. Rather than showing that an institution is insolvent, the certificates make it appear solvent. ************* The president has little control over banking policy, which remains the purview of the House and Senate... But is was George Bush Srs. QUICK RESPONSE that kept the S&L crisis from snow-balling out of control...