Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: greenspirit who wrote (138611)	4/15/2001 8:37:24 PM
From: Thomas A Watson	Read Replies (1) \| Respond to of 769667

nice post mike, " >McCain Pain, Loan me reform.</a>http://watman.com/link/poli.html In between the chit chat I've been looking at online photo places and just about an hour ago I signed up at pbase.com It free and the let you upload images in a tar or a zip file. I uploaded 91 pics in a tar file. 10 meg in one shot and they created a photo ablum. This is pretty good. pbase.com This is a sunset sail and race. some nice shots. tom watson tosiwmee

To: greenspirit who wrote (138611)	4/15/2001 8:42:31 PM
From: American Spirit	Respond to of 769667

Boy was that a big white-washing to defend your hero Reagan from responsibility for the S+L debacle. LOL. I didn't say S+L's were not in trouble before 1980 but the cure was worst than the sickness. De-regulation which opened the flood-gates of unsecured, fraudulent and abusive loan fraud started with the Garnes St. Germaine Act which Reagan signed at his handlers and contributors' insistence in '81. It was a pet project of Donald Regan. It removed virtually all restrictions from who and what you could loan for and the amount of collateral necessary. It also removed regulatory resources necessary to check up on these swindlers. Insured by the government, these thousands of big fat loans fueled a temporary boom then a big bad bust. It's true that McCain and some Dems got caught up in it (soft money again) but it was conceived of, placed into existence and encouraged in the name of "free enterprise" (free loans basically until the tax-payers had to pay them off) by the RR Administration. You seem knowledgeable but this is a gaping hole in your knowledge of history. The S+L debacle didn't even exist before 1980. RR made it and Bush cleaned it up. Too late though. And don't misquote me. I never said Bush-Cheney were responsisble for the S+L debacle, just that the energy debacle (too much deregulation giveaways and no concern about enforcement) could lead us into the same big hole. Of course Neil Bush did play a small part at Silverado but like his brother GW at that point he was just a name fat cats were throwing money at to get on their board. By the way the 600 billion the S+L debacle cost was in 1990 dollars. Maybe a trillion or more by today's standards.

To: greenspirit who wrote (138611)	4/15/2001 9:23:26 PM
From: Thehammer	Respond to of 769667

Hi Michael, This act also raised the FDIC deposit insurance limits from $40,000 to $100,000 a move which exacerbated the problem. <<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. >>