On Mar 17, 12:48*pm, F. George McDuffee gmcduf...@mcduffee-
associates.us wrote:
On Mon, 17 Mar 2008 09:38:39 -0700 (PDT), wrote:

snipI also consider that the Party that allowed this to happen...the
Republicans...will pay dearly this November.

snip
===========
You give the Republicans too much credit. *

==The current situation is not a sudden or unexpected event, but
the simply the latest in a increasingly catastrophic series of
events, apparently premised on the adage "more of the same only
better." ==

Glass-Steagall was repealed in 1999, largely setting up this
bubble, on Bill Clinton's watch.http://en.wikipedia.org/wiki/Glass-Steagall_Act

Both parties are equally responsible, and both parties are
equally incapable of dealing with the situation because of their
over involvement with the financial establishment, although a few
rare individuals appear to be "clean." *

For example, , Chairman and Chief Executive Officer of Bear
Stearns, is a Bush Pioneer having raised at least $100,000 for
Bush in the 2004 presidential election. Bear Stearns gave
$127,500 to federal candidates in the 2006 election through its
political action committee - 25% to Democrats and 75% to
Republicans. *
Also seehttp://www.opensecrets.org/softmoney/softcomp2.asp?txtName=Bear+Stear...
{note that contributions went to both parties}

(there are other events in this chain, but you get the idea)
Continental Illinois
S&L
LTCM
Junk bond speculation
Dot com speculation
Real estate bubble
CDO/CMO bubble
Derivative speculation and unwinding

Note that this sequence could have been aborted at any stage by
vigorous investigation and prosecution for numerous violations of
the financial regulations (and common sense).

Unka' George [George McDuffee]
-------------------------------------------
He that will not apply new remedies,
must expect new evils:
for Time is the greatest innovator: and
if Time, of course, alter things to the worse,
and wisdom and counsel shall not alter them to the better,
what shall be the end?

Francis Bacon (1561-1626), English philosopher, essayist, statesman.
Essays, "Of Innovations" (1597-1625).

Nice try but the last time I looked George Bush is President.

And this is happening on his watch.

And you the American taxpayer are losing lots of money because of his
policies.

The buck stops at his desk.

TMT