A day in the life of President Bush (photos): 7/21/02

yahoo.com, whitehouse.gov

[rintense]

President Bush and First Lady Laura returned to Washington after a weekend at Camp David. In his weekend radio address, Bush urged Congress to act on several pieces of legislation before their August recess. Enjoy your daily dose of Dubya!

[Mo1]

No .. what is rattling Wall street is Congress and all their talk of "policing" Wall Street and putting stupid laws in place just to get votes

[Wphile]

Well those numbers were based on false numbers...

Yeah, these are the same people who now say they are going to fix things! Heaven help us. The last thing the markets need right now is Congress mucking everything up. All that yammerin' and hollerin' coming from Capitol Hill is what's got Wall Street spooked. It's not Bush and it's not O'Neil...it's the frickin' Congress!

Null...I never thought too much of O'Neil until I took the time to listen to him. The guy is solid and he's a good egg. He may not be full of spit and polish like Rubin but I believe he is honest and knows what he is doing. The reason why the markets are a mess is because everyone got caught up in the "image making" of business, a la bill clinton and politics, and ignored the substance. Remember all that talk about the 'new economy' and that we don't need companies to make money anymore, etc...It was all a sham and it's coming home to roost. If Wall Street doesn't like O'Neil, I think Wall Street has the problem, not O'Neil.

[nullsumme]

Unfortuntely, whatever progress is going to be made in Africa is not going to translate to political capital for Bush at home. I hope you are right though.

[Mo1]

Yes I do remember all those trips and NO ONE from the press complained .. not one bit

The President seems to be saving the taxpayers a load of money just staying home and IMO ... the press can just sweat it out

[nullsumme]

Yes, congress is a problem, but O'Neil is making us pulling our hair out too!

[Mo1]

BINGO !!!

And you want my opinion Rubin has a lot to do with what is going on now

If I recall it was Rubin that called the White House asking them to back a loan for Enron

There is more to Rubin's past then the Press is reporting on

IMHO .. I'll take O'Neill any day

[speekinout]

whatever progress is going to be made in Africa is not going to translate to political capital for Bush at home.

I'm not so sure. My middle class, Black, Dem. friends have been looking for some help for Africa for years. There's not been any to speak of. Money to the ruling classes doesn't impress many.
Water, sanitation, food, AIDS medications -any one of these could attract Black voters to the GOP.

[Wphile]

Thanks for the marching orders. I shall call Gephardt tomorrow and Newsweek.

God, I hate the press.

[nullsumme]

It's not just what O'Neil does in public, what he's doing behind the scene is more unsettling than his public remarks. There was this little reported mid-day surge last week from several large institution buyers, the buying momentum was solid enough to keep it into the closing, and then O'Neil spoiled party with a forced blip, this is a not the first time we've seen him doing it. Say what you want about Rubin, at least he never unnerves markets like that. Of course, what O'Neil did that day is just tip of the iceberg.

[Mo1]

Sorry .. I'm not buying that about O'Neill

O'Neil is not the problem either

What is happening now was bound to happen .. many experts have been saying it for years ..

The Market was a bubble and add on a few cooked books .. folks tend to get nervous

There are ONLY a few bad apples out there .. but unfortunately all the companies are paying the price for a few greedy CEO's

Put those CEO's in jail and you'll send a message to other CEO's to make sure your i's are dotted and your t's are crossed ..

[Wphile]

So, what did he say and what's the iceberg you are talking about? I need some more specifics if you are that convinced that O'Neil is the problem.

[nullsumme]

There are lot more things to financial markets than cooked books and capital bubble(junk IPO etc..), what is happening right now is not entirely O'Neil's fault, and you are right that it is unavoidable, let me just say O'Neil does more damage with his actions behind the scenes than what he's been saying on national tv.

[Wphile]

Again, what are his actions behind the scenes?

[Mo1]

OK .. I'll bite .. what actions would this be??

[Mo1]

There are lot more things to financial markets than cooked books and capital bubble(junk IPO etc..),

And yes I know there is more involved to the markets

But I don't understand how you think this is O'Neil's fault

[Mo1]

Say what you want about Rubin, at least he never unnerves markets like that

What he did do was push for loans that these companies could not pay back

[speekinout]

O'Neil does more damage with his actions behind the scenes than what he's been saying on national tv.

So, what actions are these?

[nullsumme]

dollar repo, why he didn't let the fed make coordinated currency intervention is beyond us, what's more was the treasury repo strategy, anyway, I don't want to get into technical details, but O'Neil the CEO is going not making friends on Wall Street.

[ThePythonicCow]

We are heating things up for Helen

cool ...

[Wphile]

dollar repo? I'm not sure what this is but if it's the strong dollar policy that is waning, I'm not totally opposed to it. For those of us involved in exports, having a weaker dollar isn't necessarily a bad thing.

And just for edification, just who is Wall Street? Are you talking about traders, investment bankers or brokerages? Frankly, I think the likes of GoldmanSachs et al are some of the biggest crooks on Wall Street, Rubin certainly among them.