CLINTON'S WALL ST.

New York Post ^ | Sunday, July 14, 2002 | By JAMES HIGGINS

[JohnHuang2]

"The 1980s were not just a decade of greed and self-seeking, they were a decade of denial and blame. George Bush is happy to tell Israel what to do. Why won't he tell Wall Street what to do?"

NOT even Bill Clinton's harshest critics could have foreseen what the headlines would look like a decade after he campaigned on that statement and after eight years of his leadership in the White House. Enron. WorldCom. Arthur Andersen. ImClone. Merrill Lynch. Credit Suisse First Boston. How did it all happen?

[JohnHuang2]

Sunday, July 14, 2002

Quote of the Day posted by Ragtime Cowgirl

[daffyduct]

Most of the rank and file Dumbocrats have no concept of economics. That's why this situation is able to be laid on Dubya's doorstep. He gets the blame for Clinton's failures and the Dasholes and Gephardts fuel the fire with their retoric, questioning Bush's action to correct the problem their guy Bill created. The liberal agenda to dumb down the masses thru inferior education has kept the rank and file too stupid the see beyond their next paycheck. It is a credit to GWB that he has put honest people in position to ay NO to the corruption that has festered under Clinton.

[SevenDaysInMay]

"Character does matter." following quotes of Democrat politburo members should be a Republican mantra for this 2002 election.

[Brian Allen]

Flow-on happens!

"Consequnces" is my favorite word.

[Miss Marple]

Interesting information here.

[Texas Jack]

If the 80's were the era of "greed," then the 90's must surely be labled the era of "deceit."

[independentmind]

You may want to check this opinion piece from Friday's WSJ for a slightly different perspective.

The Wrong Kind of Correction

[cgbg]

Excellent post.

I think most Freepers understand these issues clearly.

What many are still in denial about are the consequences. Yes, there will be consequences--in the marketplace.

It is called a stock market crash.

The Clintons set up "the perfect storm". Woe be to any who venture out to sea in these times...

[yoe]

"The Clinton era was marked by corruption, dishonesty, dishonor, treachery -- at the highest echelons: No-one should be surprised that societal corrosion resulted at many levels."

The Clinton's were corrupt long before the came to the White House. Notably was Mrs. Clinton's $10,000 futures in cattle (?) that catapulted seemly overnight into $100,000. Financial people everywhere recognized that devious scheme for the crime it was, but the media and the Clinton spin team used it to further open doors to anyone with enough capital to invest, to get away with criminal use of that capital. Not to mention the White Water scams, the use of the Rose Law Firm to cover those crimes.

John you have hit the nail on the head again! Thank you.

[FITZ]

Bush's action to correct the problem their guy Bill created.

I don't think the problem is being corrected by anyone. The so-called good economy didn't have a base, we gave our manufacturing jobs away and are still doing it. It's even worse because before we gave them to Mexico but now they're going to China instead.

[dano1]

Ronald Reagan, whom Clinton accused of "denial" of ethical problems arising from greed, installed in that post Rudolph Giuliani. Giuliani went at his job with a vengeance, indicting so many Wall Streeters for wrongdoing that he still faced bitterness from the financial community when he first ran for mayor in 1989.

In the same job, Bill Clinton gave us Mary Jo White. This was the same Mary Jo White who could not find any senior official to indict when Ron Carey turned the Teamsters' union treasury into a mutual money-laundering facility for his re-election campaign and for the Democratic National Committee.

ping

[alrea]

Rubin's request was akin to the owner of a team faced with playoff elimination asking the league commissioner to get the referees to call the next game so that the owner's team doesn't lose.

It was obvious that Rubin and others associated with Clinton were rigging the game in the mid to late 90's.

The Federal Reserve was probably aware. The media should have been where this fire was exposed and thus extinguished.

[dano1]

The Clinton administration had a simple way to resolve this tension: law enforcement had to yield to fund-raising. It must have been difficult enough to persuade a CEO to come to the White House for coffee at $50,000 a cup. With pending securities-law investigations in the background, it would have been impossible. So the dogs had to be called off.

As more of this story comes out it could be very damaging to Al and Hillary's careers.

[Benrand]

Corzine.

[willyone]

It was one thousand not ten thousand. Please do not detract from the beasts investing skill.:)

[timestax]

bump

[BenLurkin]

How about The 1990s: The Decade of Corruption

[yoe]

Thanks for the correction! My Oh my, how brilliant the press made her out to be; I believe she said she did all this by reading the WSJ. The woman has brass and no class or integrity for that matter.

[MamaLucci]

CLINTON's chairman of the Securities and Exchange Commission (SEC) was Arthur Levitt Jr., former head of the American Stock Exchange and son of a legendarily upstanding New York state comptroller. To his immense credit, Levitt saw the outlines of many of the disasters that have since emerged and sought to address them before they got out of hand.

Problems have appeared in audit-committee structure and authority, in security-analyst conflicts of interest and in the conflict of interest posed when accounting firms audit the books of and earn consulting fees from the same client. Levitt had flagged all of these issues for reform by 1999.

Levitt might as well have been suggesting a program of intergalactic travel. But with his proposals lacking the promise of fund-raising, improved poll numbers, or the Nobel Peace Prize, Clinton had no interest in them.

This article is right on the (dirty) money!

[parsifal]

Super post! Voe said what I was going to, so BUTTT! parsy.