by John Hawkins | July 19, 2002 6:25 pm
The Bleeding Hasn’t Stopped And The ‘New Tone’ Isn’t Helping: It seems like every week brings a new accounting scandal and it’s causing the market to free fall…
“The Dow Jones industrials shattered their post-terrorist attack lows Friday in a dramatic 390-point sell-off that began with news of a government investigation at Johnson & Johnson and quickly turned into a full retreat by bruised investors. It was the average’s seventh biggest point drop ever, and its lowest close in nearly four years.”
Of course, this has absolutely nothing to do with anything Bush has done but the Democrats are desperate for an issue to use in November so they’re trying to pin it on him. Yet, because of this new tone garbage, the Republicans haven’t mounted any sort of effective counter-attack. Why isn’t the party running commercials blaming the Democrats for talking down the stock market? Most of these scandal ridden companies have ties to Democrats that are almost as extensive as their ties to Republicans. So why aren’t nailing Christopher Dodd for pushing the legislation that made most of this shifty accounting possible? Why not push the fact that most of these scandals started under the Clinton administration and were shut down under the Bush admin? Then we could play this off damage off as a result of ethical lapses when the Democrats were in charge. There are so many angles we could hit this from but it’s ridiculous that we’re JUST NOW starting a coordinate a real offensive.
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