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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (138574)	4/15/2001 5:49:46 PM
From: hmaly	Respond to of 769667

American Spirit. RE..deregulated S+L's just like Bush-Cheney are trying to deregulate energy and CAUSED the big rip-off. They then denied and denied there was a problem until RR was out of office and let Bush clean up the mess. <<<<<< If you think the S+L debacle was cause solely by the deregulation of the S+L. then I have some swamp land to sell you. Yes the deregulation of the S+L was botched by the gov. But the main reason the S+L failed was because of all of the bad REITS loans out there, which the S+L were allowed to give loans to; many of which failed because they were built upon the promise of tax breaks, rather than the economics of the deal. The tax breaks caused overbuilding of office buildings and apartments, and the elimination of tax breaks caused their collapse. The S+L which held many of the loans collapsed with them. Certainly the bribery of politicians allowed the REITS to get their tax breaks. <<<Bush is a creation of soft money<<<<< All politicians live on soft money. Slick Willy really was truly ingenious in expanding ways to recieve bribes(soft money). The dems now are just as opposed to McCain Feingold as the reps. so please cut out the holier than thou shit. All politicians live on soft money, and I doubt if McCain Feingold will do enough to stop it. Mc-Fein will force the bribery underground, but it will survive. The S+L debacle and the new energy debacle are very similar in terms of their root causes and the types behind the manipulation. I have no doubt the energy crisis was caused by government regulation gone awry. But a lot of that regulation was caused by the environmentalist hype, which cause shortages, which put big oil in the drivers seat. Environmentalism and development can go hand in hand. We need both. Once people complain then they'll allow more pollution and try to drill off your sea-coasts, in your wilderness. <<<<<< And your solution is what? To not allow drilling or nuclear, so that we will have to cut down our forests just to heat our homes next winter. That will do a lot for the environment. Yes, natural gas power plants are cleaner than even modern coal plants. But natural gas is in short supply, and using nat. gas for power plants will force higher gas prices; which in turn will force many home owners to give up their efficient gas furnaces for inefficient oil and wood. How much pollution will we have then? How many trees will be left to soak up CO2; as one acre of trees eats up 5.5 tons of CO2/yr.. Our country will start to look like Uganda. Is that really what you want?

To: American Spirit who wrote (138574)	4/15/2001 6:05:18 PM
From: Ish	Read Replies (2) \| Respond to of 769667

<<Once people complain then they'll allow more pollution and try to drill off your sea-coasts, in your wilderness.>> The oil rigs off the Louisiana Coast are the biggest fish habitat structures this nation has. Caribou love the Alaskan Pipeline. It keeps them warm in winter.

To: American Spirit who wrote (138574)	4/15/2001 7:33:50 PM
From: greenspirit	Read Replies (3) \| Respond to of 769667

AS, it's time for a few facts regarding the S&L bailout. Once again, facts get in the way of Democrat talking points. Contrary to popular belief, the savings and loan industry was insolvent throughout the 1970s. It was in the red by $110 billion by 1980, before any of the deregulatory reform initiatives were passed. Before 1980, savings and loans were required to invest a majority of their assets in 30-year, fixed-rate mortgages, secured by real estate within a 50-mile radius of their home offices. Those loans were funded mainly by passbook savings accounts, payable on demand. Funding long-term, fixed-rate assets with short-term liabilities is a recipe for disaster during times of rapidly rising interest rates. And for the first time (in the 1970's), the economy experienced both inflation and stagnation. Because of this, the health of the S&L industry slowly deteriorated. Especially when interest rates reached 15 percent. Note: This was well before Ronald Reagan, or George Bush came to power. It was during the Carter years, when congress was controlled by Democrats. In 1980 congress passed "The Depository Institutions Deregulation and Monetary Decontrol Act". Under this act, it was believed deregulation would reduce fluctuations in the financial system. As a result of the first steps taken toward partial deregulation, 1981 was a record year for mergers. Mergers typically happen when an industry is facing extreme financial difficulties. The steps toward deregulation taken in 1980, and again in 1982, were attempts to address immediate problems faced by S&Ls. Their overdependence on geographically concentrated fixed-rate mortgages. However, policymakers failed to address the full range of problems, and they allowed hundreds of insolvent institutions to remain open, funded by taxpayers. This culminated in a nation-wide scandal known as "The Keating Five". Who's members were four Democrats and one Republican. And guess who that one Republican was? Your hero John McCain. Along with John Glenn (D-Ohio) Alan Cranston (D-Calif.), Dennis DeConcini (D-Ariz.) and Donald W. Riegle Jr. (D-Mich.) Therefore, your conspiracy belief that George Bush or Dick Cheney were behind the scenes manipulating the S&L crisis is ridiculous. As is your belief they are behind California's energy problems.