11/21/2003


Corruption and Protectionism a Platform for the GOP?

The Systemic corruption in the investment world is going to bite this time. It seems that there is no end to this "tunnel". Corruption is everywhere. When you combine this with the obscene slap on the wrist that our "Regulator" handed Putnam (a civil suit settled for cash for a series of felonies), people are losing confidence in Wall Street and losing it fast. And pay attention: Greenspan has warned about protectionism as he warned about "irrational exuberance". Nobody in the Administration is paying any attention at all as nobody paid attention to the earlier warning. When you combine the ineffectual enforcement of the investment laws with the horrid protectionism you have a formula for a real collapse in the market. The dollar is in freefall, our Iraq situation is not getting better, and the increase in Terror Attacks seems unending; not the ingredients for a stock market to rally. Bush appointed another "weenie" to run the SEC and if it weren't for Elliot Spitzer, the AG of New York State, Putnam would be off scott free. I'd say that if the Democrats had a normal Democrat running, Bush would lose in a landslide. These issues are too big not to be addressed by a party interested in the welfare of the United States. LATE ADD: Market is down and all the "talk" is about the protectionism. Japan is retaliating, Europe is retaliating, and so is China. This tariff policy is insane and if Bush doesn't step in to stop it, God knows what will happen. This is crazy. Maybe Bush really is a moron.

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