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

To: Neocon who wrote (417097)	6/23/2003 11:42:33 AM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 769670

Re: "Deposit insurance was an intelligent response to the experience of bank runs during the Depression." >>> Agreed. >>> But bailing out every penny of investor's money - no matter how much more they had on deposit than the federal $100,000 insurance limit (per institution) was a way of making whole investors who should have been responsible for their own investment decisions. >>> Anyone chasing those "Michael Milkin-style" high junk bond yields of the era should have been aware of investment risks... particularly since they were aware that only $100,000 was federally insured (they could, for example, have only chosen to deposit in institutions that carried private insurance on amounts over 100 K, as brokerages do....) >>> If the government choses to make whole millionaires investing in junk bond and leveraged real estate deals... why not the investors who bought into Nasdaq at the top of the Bubble? What's the difference? One group had better political connections than the other?