I KNEW IT! Gray Davis recalled for nothing!

[irishgrl]

No - the fall of those two companies and the peripheral losses in other companies was the death knell for an economy built on stilts. I realize people had more money, but that was a direct result of people speculating on IPO's in companies that had never shown a profit and those same companies went belly up four or so years later to the loss of trillions over and above the trillions lost in the Enron and MCI debacles alone.

I didnt speculate in any IPO's, I didnt speculate in ANYTHING! You are looking at it from the standpoint of someone with quite a bit of discretionary income I think! I myself, as just an average working class joe was able to purchase a car and a home thanks to the fluidity of the economy, which BECAUSE of the balanced budget, did not translate to program cuts on the State or Local level. For the first time, programs were funded decently, and States were in a better financial shape (except for CA which was targeted by EVIL Enron because we used to be a wealthy State, with the worlds 5th largest economy)