Wednesday, June 26, 2002

Prosperity of the '90's Turns into Scandal

This is paraphrased from an article by Jonah Golberg.

Now that we have a Republican president the news media is suspicious of big business again. This last happened back in the 80's when Reagan and G.H.W. Bush were in office. They know that republicans are out to cheat everyone, so the people were bound to get screwed in the market. The 80's was declared the decade of greed, and people went to jail over junk bonds and such stuff.

Then came the decade of even greater greed, the 90's, and the problems at Enron, Worldcom, Global Crossing et al., developed into multi-billion dollar problems of rampant mismanagment, cheating, and greed. However, nobody noticed because we had a Democratic president in office, and the news media knew that the little guy would get a fair shake in the market. This is because they knew that Clinton cared about them and would never allow anyone to cheat them. The greed of the 80's transformed into the prosperity of the '90's.

Now that we have a Republican president again, the media is back after businessmen, and low and behold, all these problems crop up, which the media tries very hard to blame on Bush even though they grew up during Clinton's terms and the Democrats were in the thick of them. The prosperity of the '90's has transformed into the scandal of the new millenium.

The truth of the matter is that in the 80's, the 90's, and now businesses continue to act like businesses have always acted.