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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (86515)	12/9/2000 8:24:40 PM
From: yard_man	Read Replies (1) \| Respond to of 132070

Hey, I was reading some of that silly stuff on one of those sites ... you know ... one of those bearish whiner sites .... Well, you know how nostalgic those types can be. Last good time they had was in '98 with the Long Term Capital short term distress ... The thought occured to me, "Did we ever really find out what happened?" Did I miss an issue of the DrudgeReport that blew the thing wide open? What really did happen?

To: Knighty Tin who wrote (86515)	12/10/2000 10:41:54 AM
From: Freedom Fighter	Respond to of 132070

Mike, My feeling is that most politicians think we are experiencing typical capitalist excesses. They further think that Wall St., corporate executives, VCs, etc... are no different than you and me. They buy and sell securities to take advantage of the excesses in either direction. Above that, they try to put legislation in place that will help their business. I don't see it that way. I think there's a difference between what we do and using government institutions and the powers of the Fed to create profits for yourself while avoiding personal loss. Whether it's direct bailouts, inflating the system, pressuring FASB, using the media to advance hype and lies, using the IMF to impose conditions on foreign debtors that protect the creditors and destroy the local economy (and then buying their depressed assets at a nickel on the dollar.... I also don't think they understand the weaknesses in our domestic and global monetary system. There may be some politicians that understand the process, but based on my observations, there aren't too many. They think these institutions are ensuring stability. Maybe I'm underrating their understanding - which means I dislike them even more now and feel even better about my vote! :-) Wayne