[Lazamataz]

We ignore this editorial at our own peril.

[Lazamataz]

Disgruntled conservative bump.

[nonliberal]

Bush a Democrat in Republican clothing?

Welcome to Kansas, Toto!

[RJCogburn]

Bush a Democrat in Republican clothing?

No, he is just a 'third way' politician in a business suit. A nice guy, though.

[SamBees]

VERY VERY UPSET CONSERVATIVE BUMP

[SuziQ]

no less a supply-sider than Jude Wanniski sent a warning to House leaders that forcing firms to report stock options as a business expense, where the investors would see it, would have chilling effect on the entrepreneurs who built the boom of the dot.coms.

Yeah, and we all know how well those dot.coms have done, huh?

I don't pretend to understand all the ins and outs of what has transpired with this stock market, but I do know that unless and until the confidence of the average person in the management, reporting and oversight of companies returns, it will be a long slow climb out of this. Investors have been shaken to their bones by the deception practiced by a few large companies, but because of those few, most stocks suffered, and as a result folks lost earnings and retirement funds.

As a comment on the article itself, I believe Pres. Bush has in mind the reorganization of Govt. in order to rein in some of the bloat that has been created over the years. He won't be able to do it overnight, or even in year or two. It is my understanding that the new Dept. of Homeland Security will pull together and replace several agencies which had been charged with the protection of the nation, but were sometimes working at cross purposes with other agencies. It is my understanding that those other agencies will be closed, thus ending those costs and they will be absorbed in to the new dept.

[supercat]

wiping over a trillion dollars in assets

Why do people regard "market capitalization" as a number that means something? If a company sells 100,000 shares at $10 each, someone sells 100 of those shares for $100 each, and that's the last trade of the day, the company's "market capitalization" is $10,000,000 (100,000 shares times $100/share) even though investors only put $1,000,000 into the company. There is also no way that investors, on a whole, could get anything close to $10,000,000 out of the company (some might get more, but only if others lose money). What, then, is the meaning of the $10,000,000 "market capitalization" figure?

[staytrue]

The first bush act was to fight for a sizable tax cut. Bush respects the men and women in the military and for keeping it strong. Bush expects and demands ethics from businessmen. Bush appoints judges who respect the law instead of creating it. Bush wants a strong and effective public school system. The last point while a noble one, is probably where he has gone off the reservation. The public school system, like any monopoly, can only be reformed by letting the free market work its will. Mostly, Bush is very republican.

Let's look at what a democrat really is. A democrat says one thing just to get votes and then does another to enrich himself. A democrat used to stand for the little guy. Now, a democrat gives the same speech but generally will do anything to stay in power and that includes screwing the little guy. I don't know what democrats stand for except money and power. This does not describe President Bush.

[foreverfree]

bump

[Torie]

What is your opinion regarding the big CPA firms, how they are structured, and GAAP? Do you think the status quo is adequate? If you don't have an informed opinion on this, then your disgruntlement as to these matters strikes me as somewhat kneejerk. We would be better served to assess each issue on its merits, and opine when we are informed, and absent that ask intelligent question hoping for an informed response. JMO.

[staytrue]

Ok Laz, it there a single democrat in the house or senate or governorship that you would prefer to Bush ? If you can not name one and I sure can't, then I fail to see how Bush is a democrat.

[Torie]

But last week, as the accounting bill was in final debate, no less a supply-sider than Jude Wanniski sent a warning to House leaders that forcing firms to report stock options as a business expense, where the investors would see it, would have chilling effect on the entrepreneurs who built the boom of the dot.coms.

Yep, hide the ball. We don't want honest numbers reflecting the real economics to get in the way of dotcomers or other high tech types raising capital. Of course the jig is up anyway.

[Ipse Dixit]

I expected better from Dubya than what we got from his father. My bad.

[sinkspur]

We ignore this editorial at our own peril.

Yeah, yeah. And if the stock market turns up (even if only slightly, as it has begun to do), the writer of this editorial will be wiping egg off his face and the cowardly Republican senators will be saying how smart George W. Bush is.

If Bush is such a Democrat, why are the Democrats attacking him?

[Abundy]

Oh I hope you have your asbestos long johns on, dude.

You are soooo in trouuubllleee....

[WhiteKnuckles]

Bush a Democrat in Republican clothing?

Not even close.

Quite a few people called Clinton the best president the Republicans could have had. Do you agree?

[gcruse]

Jude Wanniski sent a warning to House leaders that forcing firms to report stock options as a business expense, where the investors would see it would have chilling effect on the entrepreneurs who built the boom of the dot.coms.

This should send chills down the spine of every investor, conservative, and capitalist. Our trust may be misplaced, after all.

[Blood of Tyrants]

Very litle of what Bush has done could be labled as conservative. "Compassionate" conservative apparently equals "liberal".

[Jhoffa_]

I think allot of the criticizm leveled at the administration over Wall Street is completely undeserved. they even admitted that Bush's case was dropped over 12 years ago and my understanding is that Klayman had to recruit his clients against Cheney.

I think it's trendy November window dressing for the most part.

The expansion of government and it's powers are what worry me, not old hat that even the SEC admits isn't actionable.

[section9]

But last week, as the accounting bill was in final debate, no less a supply-sider than Jude Wanniski sent a warning to House leaders that forcing firms to report stock options as a business expense, where the investors would see it, would have chilling effect on the entrepreneurs who built the boom of the dot.coms.

Okay, some might be quick out of the gate to criticized the President, but I don't see an alternative to his signature on the Sarbanes bill, and neither does he.

Face it; character is what we see when an individual does the right thing on his own. A group of folks gamed the system so they could enrich themselves at the expense of their shareholders. This is fraud. It is a crime. People like that should go to prison, for they have brought disrepute on to the tens of thousands of honest businessmen who trade in an honest dollar.

It does not matter that Bill Clinton took campaign money from these people to look the other way, or that Robert Rubin set up a sweetheart deal for Goldman Sachs and other investment banking houses after he left the Treasury. These men are Liberal Democrats. It is expected that they are sleazy from the getgo.

However, it does not follow from a condition in which the Chief Magistrate of the Republic lies to a federal judge that those in the business world have, therefore, a right to do the same.

We as Republicans must invest those who have great power and influence with great responsibility. Republicans must be the party that looks out for the common shareholder. We must be ready to act in their defense against those who would fleece the shareholder of his wealth by outright fraud and accounting manipulation. This manifestly does not mean that shareholders have a right to be stupid and maintain their entire portfolio in a single stock. People whose entire portfolio consisted of Enron shares were quite willing to ride the Tulip Market of 1998-2000, but are now unwilling to shoulder their part of the blame for their own loss because they failed to diversify.

We must recognize that just as the Liberal Democrat is ready to loot one's hard earned dollar at the point of the bayonet, the corrupt businessman needs only a pen and a sly accountant to accomplish something almost as sinister. Each individual, the corrupt businessman and the Liberal Democrat, seeks to line his pocket with the wealth of the producers, not to create new wealth.

Anyway, I say bravo to Bush for making this action, draconian as it is, his own. He will deprive the craven and hypocritical Liberal Democrats of an issue once this gets to his desk and will campaign on it. You'll start to see the political results when Worldcom execs start taking the Perp Walk. The wealth of a company belongs to those who are shareholders in that company; not to a few corrupt executives who fail in their fiduciary responsibility to the shareholder. The Augean Stables must now be cleaned so that the vast majority of honest CEO's, men such as Treasury Secretary Paul O'Neill, may reassert themselves and bring stature and direction to a confused and dispirited market place.

Be Seeing You,

Chris

[maxwell]

Bwahaha! I know where you got this article, dude...