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Quiet a few Democrats were tied in with Enron also... Bingaman, Breaux, Bennett, Boies, Rubin...
You can disregard 9/11 and say Bush should have done something about it but you can't ignore it was planned on Clintons watch. It was also bolstered by failed attempts to get him. But Bush will only be remembered for not getting Osama ignoring the fact that AQ is virtually impotent.
I know exactly what started the decline. It was the breakup of Microsoft.
Reversing a Clinton-era goal, the U.S. Justice Department said Thursday it would not seek a breakup of Microsoft in its long-standing antitrust battle with the software giant. The department said it was giving up that chase in an "effort to obtain prompt, effective and certain relief for consumers.
From 1992-2000, the markets and the economy experienced a period of record expansion. On September 1, 2000, the NASDAQ traded at 4234.33. From September 2000 to January 2, 2001, the NASDAQ dropped 45.9%. In October 2002, the NASDAQ dropped to as low as 1,108.49 - a 78.4% decline from its all-time high of 5,132.52, the level it had established in March 2000.
Causes of the Crash:
Corporate Corruption. Many companies fraudulently inflated their profits and used accounting loopholes to hide debt. Corporate officers enjoyed outrageous stock options that diluted company stock;
Overvalued Stocks. There were numerous examples of companies making significant operating losses with no hope of turning a profit for years to come, yet sporting a market capitalization of over a billion dollars;
Daytraders and Momentum Investors. The advent of the Internet enabled online trading –a new, quick, and inexpensive way to trade the markets. This revolution led to millions of new investors and traders entering the markets with little or no experience;
Conflict of Interest between Research Firm Analysts and Investment Bankers. It was common practice for the research arms of investment banks to issue favorable ratings on stocks for which their client companies sought to raise capital. In some cases, companies received highly favorable ratings, even though they were actually in serious financial trouble.
A total of 8 trillion dollars of wealth was lost in the crash of 2000.
Millions lost their jobs (I was one). Bush cut taxes and went into deficit spending (sounds similar to *Obama's Plan*) to try and curtail that failure. Although I think maybe in retrospect letting it go would have been better. What are we currently doing and plan on doing more of? Was Clinton more of a republican than Bush?
Last edited by BigJon3475; 01-15-2009 at 09:34 PM..
I can't wait to unleash on Obama what all the liberals have been saying about Bush for the past 8 years. Oh this is going to be grand
I am going to laugh when Obama becomes the most hated person in America. He's just a person, he's not the coming of the Messiah like everyone thinks, he can't fix things with the snap of his fingers. People are going to get slapped silly with reality if they expect anything major from Obama ... and I am just going to laugh because I told you all so.
he wont be the most hated man because he isnt evil, he doesnt represent evil
all the racist idiots and the greedy war profiteering pigs will find some way to hate Obama but for the most part Americans will like him
I see economist everyday that say that the bailouts have not worked...
What are their criteria for "worked" versus "have not worked"? Do any of them say that 90-days-out models of capital markets without the bailout produce numbers that are substantially the same as what has been seen in actuality?
I think it's also quiet obvious with Madoff having been doing this crap for reportedly decades points to much much deeper problems with the oversight. That in and of itself could have been the thorn in many a presidents feet.
He just had dinner with neoconservative mouthpieces at the home of George Will, and to sit in the same room over lunch with Krauthammer, William Kristol and George Will is spending more time before he even took office than Bush EVER spent in the company of liberal media types in eight years.
Obama's got the stones to do it. Bush don't. You dont need to worry about me, worry about your President and be grateful it's Obama.
I don't think you will find many people that would say Bush was the best president ever. But saying he was the worst is a little ridiculous. Greatest attack in American history on American soil must not have the ring it used to.
What are their criteria for "worked" versus "have not worked"? Do any of them say that 90-days-out models of capital markets without the bailout produce numbers that are substantially the same as what has been seen in actuality?
Let us see... $350 billion disappearing almost instantaneously with minimal affect. I would say that falls under the category of 'have not worked', wouldn't you agree?
Bailouts are the worst possible option if you hope to have economic growth in the long run. I see no reason to sacrifice long term growth for a quick gain that wouldn't only last until the elections were finished.
I was against both the financial industry and auto industry bailouts that the Democrats forced down our throats. Our system is designed to correct itself. The beauty of capitalism is flexibility and resilience. If you leave it alone, it is self-correcting. NEVER sacrifice the long run for a quick fix!
Study Finds Link Between Bush Supporters and Mental Illness
Although the following article may infuriate some and others may see it as a joke, it is no joke. Recent research suggests that there is a link between the severity of a person’s psychosis and their preferences for president.
It appears according to a study by Christopher Lohse, a social work master’s student at Southern Connecticut University, that there is a direct link between mental illness and support for President Bush. Lohse’s study is based on a survey of 69 psychiatric outpatients in three Connecticut locations during the 2004 election.
No wonder you folks get absolutely no respect... you people are so far left even Obama dissociated himself.
What's next the "smoking circle" to come up with the next plan?
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