Miriam English wrote:
> At 12:38 PM 20/07/2001 -0400, Mike Lorrey wrote:
> >The crisis
> >was an example of political appointees specifically engineering a
> >financial meltdown to change the ownership of the Presidency. It only
> >took one act: doubling the reserve rate S&Ls were required to retain in
> >cash. This forced S&Ls to call in massive numbers of loans, leading to
> >massive numbers of loan defaults, and the crash of the S&L industry.
> You mean it wasn't an alien conspiracy??? :-)
> Gee I am so glad guns are in the hands of people with such viewpoints. Not.
Actually, I did a paper on this for a macroeconomics class back in 1991.
Got an A.
This archive was generated by hypermail 2b30 : Fri Oct 12 2001 - 14:39:50 MDT