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Politics : The Donkey's Inn -- Ignore unavailable to you. Want to Upgrade?

To: Karen Lawrence who wrote (1609)	12/20/2001 10:32:51 PM
From: Mephisto	Respond to of 15516

"And then there's the federal budget. Just months ago we were dazzled with projections of huge federal surpluses; there was enough money, the Bush administration insisted, to have a big tax cut, increase spending and still pay off the federal debt. But on Tuesday, Treasury Secretary Paul O'Neill quietly asked Congress to raise the federal government's debt ceiling -- something he had previously said would not be necessary until 2008 at the earliest. Has the sudden return of federal deficits had an impact on long-term interest rates? Of course it has. Just a few months ago everyone expected the federal government to pay off its debt, drastically reducing the supply of bonds; now it turns out that it will actually be borrowing money. Inevitably this depresses bond prices, which is the same as raising long-term interest rates. So the rapid deterioration of federal finances is part of Greenspan's problem. (Has the negative impact of the tax cut on the economy via its effect on interest rates outweighed the positive effect on consumer spending? Yes, on any reasonable calculation.)" --Paul Krugman

To: Karen Lawrence who wrote (1609)	12/20/2001 10:34:06 PM
From: Mephisto	Read Replies (1) \| Respond to of 15516

Merry Christmas, Karen, Have you wrapped your presents? I haven't! :(

To: Karen Lawrence who wrote (1609)	1/3/2002 4:18:53 PM
From: Mephisto	Read Replies (1) \| Respond to of 15516

Congressional Enron Hearings Bipartisan Hearings chaired by Lieberman will begin on Jan. 24. Bipartisan Hearings chaired by Carl Levin ( D-Michan) will start on Jan. 24th as well. I heard Mr. Levin on the radio. The committees will be bipartisan and ranking Republicans will sit on committees, according to Levin. Among other things, Levin's committee will look into the role of officers, Board of Directors, Auditors and Arthur Anderseen. This committee will also look into Enron's limited partnerships and offshore entities that were set up in the hundreds, according to Levin. Suponeas will be going out shortly. I believe Kenneth Lay received $35,000.00 a year in compensation for his job. There was also talk on the radio show how the Enron executives sold their stock b4 Enron collapsed, and possible conflict of interest among executives, board members and auditors who bought and sold stocks and options.