The House that Clinton/Gore Built

July 23, 2002 | Tom Phillips

[tbphillips]

Needless to say, our current economy with its corporate scandals and subsequent bankruptcies is largely the result of things that occurred during the Clinton/Gore era. People invested in companies with no profit, or worse, no profit potential. P/E (price/earnings) ratios did not accurately reflect the true value of stocks for legitimate enterprises due to accounting “shell-games”. The Justice Department rubber-stamped more corporate mergers (some a bit questionable) than occurred during the Reagan era (a.k.a. the, Decade of Greed) thus turning a single bad organization into several. An economic downturn with the necessary stock-market correction was inevitable but the expected occurrences were greatly exacerbated by the aforementioned as well as the attacks on 09/11/02.

Notwithstanding, I am not so naïve as to conclude that but for George Bush’s electoral victory we would not have suffered an economic downturn, as Democrats would have us believe. Although I sometimes feel like the only person who noticed it, the market decline began in March 2000 when President “I did not have sexual relations with that woman” and Vice-President “No controlling legal authority” were in office. While the market is not the most reliable economic indicator, it became painfully obvious that this decline would trigger a ripple effect in the economy at large once people realized that they owned stocks with no real value.

Our Gross Domestic/Gross National Product is partially dependent upon the value of assets held by the citizenry. Therefore, once the market began to correct for the “irrational exuberance” of the 1990’s the true value of market holdings were brought to light. The biggest hits came from those issues tied into employee 401k accounts, those foolishly used as collateral and those that were reflected in private and corporate portfolios as a portion of net-worth.

Clinton and Gore understandably took credit for the market increase which as everyone now knows, was a “snake-oil” market, yet today they and their accomplices in the Democratic Party want us to believe that the decline is the fault of Republicans generally, George Bush and Dick Cheney specifically. The fact remains however that this market melt-down is part and parcel of the house that Clinton/Gore built.

**********

1. This is the house that Clinton/Gore built (Bull market of the 1990’s)

2. These are the companies that grew in the house that Clinton/Gore built (Enron, Worldcom, Adelphia, Global Crossing, Arthur-Anderson, etc.)

3. These are the crooks that ran the companies that grew in the house that Clinton/Gore built (Tom Lay, Bernard Ebbers, John Rigas, John Legere, Joseph Berardino, etc.)

4. These are the people who got screwed (employees with 401k’s and other stock-holders) by the crooks that ran the companies that grew in the house that Clinton/Gore built

5. This is Al Gore who should be blamed for the people who got screwed by the crooks that ran the companies that grew in the house that Clinton/Gore built

6. This is George Bush who will be blamed by Al Gore who should be blamed for the people who got screwed by the crooks that ran the companies that grew in the house that Clinton/Gore built

7. These are the Republicans (House/Senate) who do not respond when George Bush is blamed by Al Gore who should be blamed for the people who got screwed by the crooks that ran the companies that grew in the house that Clinton/Gore built

8. These are the Democrats (House/Senate) who will benefit because Republicans do not respond when George Bush is blamed by Al Gore who should be blamed for the people who got screwed by the crooks that ran the companies that grew in the house that Clinton/Gore built

9. We are the people (the American public) who will ultimately get screwed by the Democrats who will benefit because Republicans do not respond when George Bush is blamed by Al Gore who should be blamed for the people who got screwed by the crooks that ran the companies that grew in the house that Clinton/Gore built

[timestax]

OH yeah!! bump

[sauropod]

ping

[backhoe]

I honestly believe that when we look back with clear and sober eyes at the nineteen-nineties, they will be remembered as

"The Decade of Fraud(s)..."

[syriacus]

Pretty catchy. I'd like to see your post in picture book form, too.

Clinton would ask...."Why are folks getting upset about a few mis-statements by corporate leaders and their bankers?!?"

[RobFromGa]

bump for the disgusting fruit of the ever-more-despicable eight-year reign of the Disgraced, Impeached, alleged serial rapist, x-President "42DDD" Bubba J. Clintoon (aka Clintigula) and his co-President "Pig in a Pants suit" Rodham Clintoon (aka Hildabeast).

May the horrid memory of these cretins be despised long after their stain is cleansed from America.

[backhoe]

Hello, Rob... you know, for the eight years that awful pair and their minions and shills and enablers held sway over America, I mourned.

I really thought that the "Good America" I had grown up in had died. I should amend that a little- the first year the slug was in office, I just thought he was a clown with no loyalty to his subordinates ( a despicable trait, in my book ) and too glib a tongue.

But I learned better as he started insinuating his tentacles into American's fabric.

[Pagey]

"...The fact remains however that this market melt-down is part and parcel of the house that Clinton/Gore built..."

BUMP!

[richwolo]

While I agree with most of what you have said in your vanity post you did not go far enough in time. what has GWB been doing for his first 17 months in office. By his own declaration he said the economy was tanking during his election campaign. Yet he did not get actively involved in the ecoomy until 2 weeks ago. his appointments, Paul O'neill, Harvey Pitt and Larry _____ have all been disasters. Yet he refuses to admit a mistake and to make corrections. Can he not take criticism. He has not fired one of them and has indicated that he has no such plans. This is despite the general public and polls taken show no faith in any of them. If a leader cannot instill public confidence he is not a leader and should be replaced. Going further, it seems that GWB had been obsessed with terrorism long after public polls indicated that the economy was greatest worry on the minds of the general public. Even now, he is trying to ram the Iraqi war down our throats when many republicans and most dems feel the administration has not made a sufficient case to go to war.

[lonestar]

3. These are the crooks that ran the companies that grew in the house that Clinton/Gore built (Tom Lay, Bernard Ebbers, John Rigas, John Legere, Joseph Berardino, etc.)

Ken Lay

[richwolo]

your statement may be true but does that mean that GWB does not have the responsibility to fix the mess.

[John W]

"Going further, it seems that GWB had been obsessed with terrorism long after public polls indicated that the economy was greatest worry on the minds of the general public."

Would you prefer he operate a la the Clinon/Morris model,or actually lead the general public?

[John W]

Thats ClinTon/Morris model.The one that gave us:"Well,we'll just have to win then."

[Argus]

You've both nailed it. Unfortunately, the US public has the memory and analytical powers of a flea, and will buy the "greedy Republican CEO's" canard with the same eagerness Monica did bent Willy.

[richwolo]

We do live in a democracy and the will of the people should be upheld.

[Zeroisanumber]

Blame Bubba!!!!

[John W]

We are actually the second selection below,even though it doesn't seem so sometimes---

DEMOCRACY:
A government of the masses.
Authority derived through mass meeting or any other form of "direct" expression.
Results in mobocracy.
Attitude toward property is communistic-negating property rights.
Attitude toward law is that the will of the majority shall regulate, whether it be based upon deliberation or governed by passion, prejudice, and impulse, without restraint or regard to consequences.
Results in demagogism, license, agitation, discontent, anarchy.

REPUBLIC:
Authority is derived through the election by the people of public officials best fitted to represent them.
Attitude toward property is respect for laws and individual rights, and a sensible economic
procedure.
Attitude toward law is the administration of justice in accordance with fixed principles and established evidence, with a strict regard to consequences.
A greater number of citizens and extent of territory may br brought within its compass.
Avoids the dangerous extreme of either tyranny or mobocracy.
Results in statesmanship, liberty, reason, justice, contentment and progress.
Is the "standard form" of government throughout the world.

[uncbob]

You've both nailed it. Unfortunately, the US public has the memory and analytical powers of a flea, and will buy the "greedy Republican CEO's" canard with the same eagerness Monica did bent Willy.

That's because the STUPID PARTY always sits back like a bunch of wimps and let the democrats attack

[backhoe]

I sure won't argue with you... a friend of mine has a neighbor so dam' dumb he almost sawed himself off a tree limb... just like you see in the movies- him, saw, tree limb, bole of the tree... he goes on the outside of the limb and starts sawin' away...

He did realize what was about to happen and quickly switched sides- but what really scared me about that was that this dolt's vote counts just as much as mine...

[gargoyle]

...Seems we had 8 years of a democracy. Let's hope we can get back to being a Constitutional Republic...