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

To: DuckTapeSunroof who wrote (417833)	6/23/2003 4:16:31 PM
From: Neocon	Read Replies (3) \| Respond to of 769670

I thought we just concluded that investments were not covered by the insurance. Oh well, I guess I am confused again. I said that it seemed right to me to stick to the limit. But I am more interested in the overall impact of such things, I have a hard time seeing that much harm was done. It seems that the harm is pretty speculative. For one thing, one way or another, a lot of that trillion is coming back to the Treasury in taxes, as bonds are cashed in and spent, or as those who recover are taxed or spend the money. Maybe there are other offsetting factors, I am not sure. Anyway, I am just ruminating, not really taking a position......

To: DuckTapeSunroof who wrote (417833)	6/24/2003 10:46:01 AM
From: DavesM	Read Replies (1) \| Respond to of 769670

Nonsense! Depositors were bailed out for similar reasons that Long Term Capital Management was bailed out. I would like to point out, that only accounts that were Federally Insured were bailed out. Those who bought other investments through their failed S&Ls lost their money. Those who deposited money in Thrifts that were not Federally Insured were not bailed out either. Bondholders and Stockholders of failed S&L's were not bailed out either. Please show some documentation that the typical depositor at S&Ls were millionaires (or even that the typical depositor with an account > $100k were millionaires). Please show some documentation that depositors in S&Ls were considered "savy investors" by the Feds or anyone else.