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

To: TigerPaw who wrote (288081)	8/19/2002 11:16:33 AM
From: CYBERKEN	Read Replies (1) \| Respond to of 769670

As in everything else, you know nothing about federal debt, either. The switch to short-term instruments was another part of the Clinton/Rubin attempt to fix the federal books, making interest rate expense appear to be dropping, when it was really being manipulated for political purposes. Private sector executives who are accused of much lesser frauds are being carted off to jail, while Clinton and Rubin run free...

To: TigerPaw who wrote (288081)	8/19/2002 11:23:58 AM
From: DavesM	Read Replies (1) \| Respond to of 769670

Its not as though the Treasury didn't need to borrow during the late 90's. I don't recall that Treasury auctions for T-bills, notes or 10 year bonds were canceled. Have you considered, that the refusal of the Treasury to issue 30 year bonds (while the Fed was raising short term rates), may have resulted in the Fed having to raise short term rates much higher than they ordinarily would have. Resulting in a market correction much more dramatic than the Fed would have wished.