"The corporate scandals of 2001-2003 did impact the working class and their retirement plans. However, the Bush tax cuts put a lot more money into the coffers of wealthy families who did not reinvest these amounts into VC funds or businesses. These wealthy institutional investors needed to park their money into something that would earn more than the secure fixed income securities. But, they were not going to take any more risk in the tech heavy VC funds. This time, the investment banking community had an opportunity to come up with an idea that they perceived to be less risky. And that idea was to create funds that focused on the growing mortgage industry. Just as was the case in the 90's, these funds had too much money searching for too few deals." - by Sheldon Drobny "Bush Tax Cuts Made Sub-Prime Fiasco Possible"
GWB is and has always been poison for the middle class. His new "stimulus plan" is vague and filled with the rhetoric of the unconvinced and uncommitted. There is no one in his inner circle that has a clue. The rich-get-richer economic philosophy is at the heart of the GWB plan and who better to buy up city blocks worth of foreclosed property than the rich. This is bonanza time for the wealthy.
