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To: GVTucker who wrote (165471)	5/29/2002 8:09:15 AM
From: John F. Dowd	Respond to of 186894

GVT: Actually Trump lost $ because of vacancy rates that were caused by oversupply. He had borrowed heavily and his new projects went bust. Then when the S&L debacle came full circle money got tight and he was done. Actually he was done in by $ being too easy. Actually the legislators created the S&L debacle and then their friends benefited by their "cleaning it up". Many people who were happy owners of property and were paying their mortgages were told that their assets did not meet certain coverage tests and their loans were foreclosed and their property sold out from under them at fractions of what they were worth. Friends of the politicians lined up to buy these "distressed properties" from that corp. run by Siedman. It was disgusting. Political field leveling is always a disaster and is born out of the doctrine of class envy but in the end it always works to the rich that are most politically well connected. We are becoming more of a communist (socialist) thinking nation every day and therefore the markets are getting more screwed up with each legislative thrust into the business milieu. There has always been this tension between capital and politicians (especially the Dems) because the politicians do not want to lose ultimate power over everything. JFD