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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (2578)	7/19/2002 9:46:31 AM
From: stockman_scott	Read Replies (1) \| Respond to of 89467

Bush and the Billionaire: How Insider Capitalism Benefited W. thenation.com

To: Wharf Rat who wrote (2578)	7/19/2002 10:43:21 AM
From: Jim Willie CB	Respond to of 89467

TA on HUI goldbug index, bullish cross HUI succeeded in finding support at the 50dayMA, 126 a mild nearterm uptrend is clear in last three months relative strenk is kindof punky poor, but at midrange all moving averages are slightly rising, except 18MA but a bullish crossover is underway with stochastix the XAU confirms with its own bull cross a day earlier altho HUI seemed to break down three weeks ago, repair took place it attempted but failed on a test of previous 140 high but maintained the bull trend by remaining over 50MA I think it just consolidated after a huge huge spring/winter run with POG moving back from #330 to #310, bigtime profitaking among the precmetal stocks this could be a solid foundation of support on which HUI can launch a new fresh assault on new highs 140-150 should provide resistance just like #330 will provide gold metal resistance we are still in gold's low season though in 2-3 weeks, it will end fwiw / jim

To: Wharf Rat who wrote (2578)	7/20/2002 5:11:00 AM
From: stockman_scott	Respond to of 89467

Corporate crooks take advantage of rotten system; Bush must fix BY JUAN ANDRADE Chicago Sun-Times Editorial July 19, 2002 One week later, President Bush still doesn't get it. Not only is he like his father, who couldn't understand that ''vision'' thing, he may be worse! After more and more revelations about corporate corruption last week, Bush was quoted in USA Today as having said, in Minneapolis, ''I believe the American people have taken a step back and asked, 'What's important in life?' You know, the bottom line and this corporate America stuff, is that important? Or is serving your neighbor, loving your neighbor like you'd like to be loved yourself?'' What does he mean: ''This corporate America stuff''? More than half of all American households have money invested in the stock market, and they're suffering huge losses because of this so-called corporate America stuff. Retirees have had their pensions wiped out. What are they supposed to do now--work until they die? They have been swindled out of their life's savings, right along with middle-class families with 401(k)s! Where's the outrage? It is estimated that $600 billion in profits has been lost because of corporate fraud. That's huge! Financial analyst Lou Dobbs said recently that $6 trillion has disappeared from the market in the last 18 months. And according to other experts, consumer confidence in the stock market dropped more and faster in June than after the terrorist attacks on the World Trade Center and the Pentagon. Why can't Bush get it? Is ''this corporate America stuff'' more important than ''serving your neighbor''? Yes. More important than ''loving your neighbor''? Hell yes. Both of my neighbors are retired, and I am worried about them, but given the choice between their money or my serving them, I'm sure they'd prefer their money. Who wouldn't? Come on, Mr. President--it's time to get real. Real people would prefer to keep their life's savings and 401(k)s than be served by anyone. Personally, I've had enough of this touchy-feely nonsense masquerading as leadership. Bush could learn from his Treasury Secretary Paul O'Neill who, to many Bushies, has an annoying tendency to tell it like it is. I like him. In denouncing corporate corruption, O'Neill noted that a teenager busted with one-half pound of marijuana will serve more time in jail than a corporate crook. In fact, a car thief serves an average of 56 months in jail. The average corporate crook serves 18 months. At least O'Neill is showing more backbone than the president, who, after Enron, called for legislation to prevent it from happening again. What about the crime that was committed? What about the thousands of Enron employees who were prohibited from selling as the value of their shares plummeted--unlike the execs, who bailed out with their multimillion-dollar fortunes intact? What about the thousands of stockholders who lost everything? Where's the outrage? And after WorldCom, the president said it's just a few bad apples. A few bad apples? Mr. President, it's more than two dozen companies that we know of already. The problem is systemic. The orchard is rotting! No one is blaming Bush for this corporate corruption scandal, but he will be blamed if he does not act decisively and prudently. He needs to lower the boom on these godforsaken crooks because, according to a Newsweek poll, only 34 percent think his punishment proposal is tough enough. Bush needs to get tough--real tough. The 9/11 terrorists were trying to disrupt a global economy by attacking the financial center of the world--the World Trade Center. They wanted to destroy the American economy, create distrust in our stock market and displace workers. They wanted to force multinational companies to close. Wipe out family savings and pension funds. They didn't succeed. But we have another brand of terrorists within our own corporations who have accomplished essentially the same thing. The only real difference is that terrorists take human lives; corporate crooks only ruin them. Ultimately, neither will succeed, but having tried, they should be treated the same and punished accordingly. suntimes.com