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

To: Neocon who wrote (587037)	7/1/2004 6:21:48 PM
From: Wayners	Read Replies (1) \| Respond to of 769670

Investment bankers, phony analysts, terrible mutual fund managers with access to 401k money, and free money from Greenspan made it all possible.

To: Neocon who wrote (587037)	7/1/2004 6:31:12 PM
From: DuckTapeSunroof	Read Replies (2) \| Respond to of 769670

"It is strange that Bush should be blamed for the dot com bust that started the recession. Let's see, who was it who contributed to the frenzy?........" Agreed. He had little to do with it. It was Greenspan who initiated the massive flood of monetary liquidity in the Y2K run-up period... and then aggressively tightened it up afterwards, precipitating the bubble's pricking. (It was also a bipartisan group of Fat Cat Senators and Congressmen who --- in the early to mid nineties --- opposed the SEC's and Treasury Department's and F.A.S.B.'s accounting reform efforts to provide for the expensing of stock options... which provided tech companies with the primary tool for tax avoidance and asset over-valuation, and provided the tool for inflating earnings multiples.) At the forefront of this group of campaign contribution sicophants were Lieberman, Dodd, Breaux, and DeLay, among many others. Clinton and his SEC Chairman Levitt fought the 'good fight' over several years for accounting honesty, but were narrowly defeated by entrenched financial interests.

To: Neocon who wrote (587037)	7/1/2004 8:33:26 PM
From: Steve Dietrich	Read Replies (1) \| Respond to of 769670

Since this conversation is tangentially about me, when did i ever blame Bush for the dot com bust? You know many Republicans consider the Nasdaq bubble burst as the cause of the recession. They also say that the market didn't really take off until Clinton and the Republican congress cut the cap gains tax in '97. So are you prepared to connect the dots and say the cap gains tax cut helped cause the Nasdaq bubble which led to the recession? Steve Dietrich