Mervyn Lobo wrote:
To put this in the simplest terms, Bush reduced taxes
and borrowed money for a spending spree.
It is just like a family man who insists in a cut in
salary and then borrows/buys on credit.
RESPONSE: This is too simple an explanation for a $4 trillion hole in the
bucket on Wall St. Reading your partisan exchange with our infamous
propagandist does not help an objective discussion.
With the annual theatrics of world leaders ongoing in NY, Bill Clinton is
all over the tube with his Clinton Global Initiative. I saw an interview
with him last night. He was asked 3 times who was to blame for this $4
trillion fiasco. He did not even come close to blaming Bush. He talked of
tools like Derivatives, Leverage and their inherent risks and the tech
melt-down at the end of his presidency and how all the money from that
market ended up in real-estate. And then the honchos on Wall St got into the
cab and drove the truck right into the ground - GREED!!
"For 200 years people have been betting against the US and have lost" - Bill
Clinton, NY, Sep 22/08
I think Bush (43) has had to endure more than a fair bit of turmoil in his 8
years at the wheel thanks to non-performing predecessors including Bush
(41). Hello Enron!! Hello Andersen!!
Never mind all this blood-letting!! Tell us how we can make a killing
without having to buy a house in Arizona or Texas or the Carolinas for a
song.
The next American president may decide that the American
taxpayer should not be subsidizing the wages of Cristiano
Ronaldo. The new President could then tell the Federal
Reserve to cancel all future cheques destined for United.
United would then have to sell Ronaldo to the highest bidder i.e. City.
RESPONSE: I dont think you understand Man-U!! It is no coincidence that it
was declared the richest Soccer Club and the number 1 sports brand by
Forbes. Sponsors are lined-up to get their name on their shirts, stadium and
gear. However there is still considerable debt being carried by the new
owners. AIG is in the middle of their contract. If they go, there will be
many more who will want their name emblazoned on their shirt....:-) BTW
Salgaocar Sports Club beat Sporting Club De Goa to finish third in the 2008
Manchester United Premier Cup (India) - Under 15. Also Manchester United
Soccer Schools have a program in Goa - they are looking for a Goan Ronaldo.
Never mind about Ronnie et al!! What are the repercussions in India (besides
our portfolios....:-(( ) from all these Wall St shake-n-bakes. There are a
few people I know who work for Lehman and Morgan Chase in Mumbai.
- Bosco
PS. Wot!! Obama donors were Fannie & Freddie and he blocked legislation that
would set them straight. Talk about skeletons in a young closet, eh??
