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To: ChanceIs who wrote (164621)	11/15/2008 2:26:20 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

The federal government promoted the financial sector to get into the welfare business. Big mistake.

To: ChanceIs who wrote (164621)	11/15/2008 2:50:21 PM
From: Elroy Jetson	Read Replies (2) \| Respond to of 306849

"Those of us who have looked to the self-interest of lending institutions to protect shareholder's equity – myself especially – are in a state of shocked disbelief." -- Alan Greenspan

To: ChanceIs who wrote (164621)	11/16/2008 4:55:52 PM
From: Dan3	Respond to of 306849

Re: I am on record here this AM that Clinton set up the groundwork and W failed to stop it What you're missing is that Clinton pushed for a balanced budget, which limited the private sector funds available to lend out. We didn't need garbage bonds when there were enough real bonds to go around. Bush slashed taxes for the rich, resulting in a flood of money looking for somewhere to go.