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To: Knighty Tin who wrote (233750)	4/5/2003 6:43:18 PM
From: John	Respond to of 436258

after 8 years of capitalism under a liberal democrat Empowerment and affirmative action were social and political buzz words during the early to late 90s. Both are liberal terms. I believe the "appearance" of capitalism under BC was actually his misguided social policies manifesting themselves as capitalism. BC pushed an extremely aggressive affirmative action/empowerment agenda from day one. He shamed the corporate world into creating new policies that they damn well knew were fiscally and socially irresponsible. Still, they were pressured and exhorted into granting massive amounts of credit to individuals that were not credit worthy (e.g. jobless, bankrupt, homeless, etc). His policies and laws allowed unprecedented amounts of credit to be doled out to many who otherwise would not merit receiving credit. Scores of destitute familes on welfare and other social action programs were suddenly receiving unprecedented levels of "free credit." BC was driven and determined to "empower" his supporters and promulgate his agenda. Basically, if someone could sign their name, they were give credit, all in the name of "empowerment." BC encouraged large segments of society to use their new "empowerment" and new "wealth." We are are witnessing the results of his nonsense policies now. Those newly empowered people maxed out their credit and overextended themselves to record levels. They never had even a glimmer of hope of repaying their debtors, as this ability was never within their grasp to begin with. A large number of these folks had minimum wage jobs and most couldn't balance a check book or create and follow a budget if their lives depended on it. Many had no clue what their effective interest rates were and many didn't care. All they cared about was their new $5000 titanium credit cards. They were heading to the malls and the car dealerships! No worries about the bills. Empowered!!! Now, it's just about "checkmate" in the credit world and it's an amusing predicament. What comes around goes around. What happens next? John