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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Pogeu Mahone who wrote (117125)	11/30/2008 4:34:43 PM
From: hdl	Respond to of 132070

Yves?

To: Pogeu Mahone who wrote (117125)	12/1/2008 12:55:38 PM
From: Freedom Fighter	1 Recommendation Read Replies (2) \| Respond to of 132070

Greenspan and Rubin deserve to be take down a notch. It was during the Greenpan/Rubin/Clinton administration that the equity bubble was formed, government economic stats for inflation, growth, employment etc.. were further rigged badly, the hype machine was out in full force every day, bailouts of various sorts using the Fed, IMF, etc.. became routine etc... It was Bush that inherited THEIR MESS and busted bubble and did what was suggested by everyone (including leftists like Warren Buffett). They all suggested cutting taxes and running deficits to stimulate the economy (dumb in "most" cases, but standard procedure in our Keynsian world). The ONLY DEBATE was which taxes to cut to create a deficit. The left wanted tax cuts that would stimulate consumption from the middle class (dumber than a rock if you are a long term economic thinker) and the right wanted tax cuts on capital (smart economically, but politically a problem because the rich were already doing well and the middle class was getting gutted by globalization). Bush's mistake was in not controlling spending, going into Iraq, and then not rolling back some of the tax cuts after the economy recovered. It was stupid to keep running deficits. However, the roots of today's problems started with the bubble that Greenspan/Rubin/Clinton created in equities and the attempts that Bush and Greenspan made to combat its bursting with deficits and wildly easy money that lead to other bubbles and excesses. To me, none of this is even debateable. Anyone that is informed and that was paying close attention in the late 90s and into the early part of the Bush administration knows this to be 100% correct. Anyone that disputes this is either a liar, not informed, or a biased partisan hack that can't be taken seriously. End of rant.

To: Pogeu Mahone who wrote (117125)	12/2/2008 3:20:30 PM
From: Knighty Tin	Respond to of 132070

Re hdl, "they have a good team, we have a good team." Seinfeld. <G> Rubin was a smart and creative Treasury Secretary who made some brilliant moves and some bonehead moves. His main problem with the govt. was that he was short term oriented, which is all there is on Wall Street. At Citi, he was a trophy director, for the most part. Sandy Weill wanted somebody to legitimize his own penchant for Riverboat gambling with the bank's money. Rubin approved a lot of bad decisions, but didn't make many of them. Prince was Sandy's chosen fall guy and Rubin rubber stamped that. Prince was an idiot and a horrible manager of people, but he wasn't bright enough to get the company into as much trouble as they got into as soon as Weill stepped down.