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To: Mannie who wrote (141)	1/14/2003 10:53:14 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 1210

if we must have tax cuts, then favoring the poor only steers the benefits toward quick spending, since the poor are more needy to cover daily expenses the wealthy would (in the right climate) be more likely to build a new business or invest further in a current business, which would keep the jobs treadmill rolling and spinning no way out, Scooter liquidations are necessary, and many will be hurt including people who are owed in acct receivables liquidations have ripple effects, as we are sadly seeing on a larger macro scale now with entire businesses (e.g. WCom, Enron) and their suppliers, or entire nations (e.g. Argentina) and their partners IT IS THE RIPPLE LIQUIDATION EFFECTS THAT KEEP THE PROCESS GOING, RENDERING ALL USGOVT REACTIONS AS FUTILE !!! my first paragraph assumed mindless quick fix Keynesian Moronic SameOldSameOld shitfixes my second paragraph addressed the greater need if we only have quick Keynesian shitfixes, then we will need one each and every year until 2010 with nothing much cleansed from balance sheets that is what I expect political forces ensure that huge pressures are exerted on leaders to DO SOMETHING!!! but the urgent SOMETHING is to shortcircuit the liquidation processes thus, no recovery imagine 100 men & women standing the requirement is for 10 of them to die the process unfettered would select those unfortunate 10 but politics dictates that all be assisted so only 2 die, and consequently the rest suffer from poor health each year 2 can die, instead of 10 over eighteen months sadly if only 2 die, then little is fixed so after a few years of seeing 2 die, others destined for gallows consideration join to replace the dead, replenishing the chosen 100 while some of the original 100 might be infected by a saved member another analogy, a leg has developed gangrene politics dictates that you must save the leg but you know it must be amputated so you carve out a small piece of wretched tissue but adjoining areas become infected, thwarting efforts eventually not only the leg is lost, but more body parts one can die of improperly treated gangrene I wonder if a USGovt stimulus plan based on a $10,000 gift to start anew following declaration of bankruptcy might work to some pathetic extent instead, they are tightening BK laws I expect the major league socialist movement soon will be to save the REAL ESTATE sector from slomo implosion I sincerely expect slomo implosion as jobs and stagnation increase, as well as interest rates increase (altho slowly) wait until the imported inflation joins with commodity inflation!!! a falling USDollar will mean higher imported supply costs then rates rise primarily on the longend and contradict a hapless Federal Reserve Policy thus producing a steepening of the YIELD CURVE complicated stuff, has me challenged more than at any time in my professional life / jim

To: Mannie who wrote (141)	1/14/2003 10:56:17 AM
From: mishedlo	Read Replies (2) \| Respond to of 1210

The problem with bankruptcies I have, is that they punish those have run their businesses well. Huh? If they ran the business well it would not be deep in debt, nor would it have extended credit to risky borrowers. I doubt well run businesses would be hurt. Marginal ones would be forced out. Unfortunatley we have ass backwards laws and they proposal is even worse. COF and all the other junk companies that thrive on forcing credit down the throats of unworthy debtors wants laws to protect them ,and they will probably get it. WCOM wnet bankrup, but is still in business with no debt. It can better compete against the others now cause it is debt free. Keeping WCOM's and KM's and S etc in business is driving down profits for the rest. All this seems to be ass backwards. M