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Not All Wall Street People Think Alike

Reported by Judy - December 17, 2005

Wall Street analysts who are guests on Fox News financial shows generally toe the Rupert Murdoch line -- Dow goes down, Democrats are to blame. Dow goes up, Bush is behind it. But somebody made a mistake when they let Greg Hymowitz on "Cavuto on Business."

A regular on the show, Hymowitz displays his Democratic leanings proudly in the face of four or five right-wing Republicans every week. Saturday (Dec. 17, 2005), Neil Cavuto picked up where "Bulls and Bears" left off immediately before it and brought up the effect of the Iraqi elections on the U.S. economy.

At least, that was the general topic. It quickly degenerated into a discussion of whether the U.S. war on Iraq is a "success."

Ben Stein, a really rich guy, took the Bush line: "We got rid of the most dangerous man in the world in the most dangerous place in the world. We installed a functioning democracy, the only one in the Arab world. We allowed the 25 million people to express their preferences for democracy. This Iraqi policy has been a smasing success. Yes, there are a few thousand people who are bent on killing people and harming the ordinary Iraqi citizens. But the overwhelming majorrity fo Iraqis want a democracy."

Hymowitz declared the Iraqi policy a failure and said the market "appreciates that it's a complete disaster and we're not getting out of it and that's why the market doesn't pay attention any more" to what happens in Iraq, including the recent elections. He agreed with Jim Rogers, another really rich guy, who said the market would "go through the roof" if the U.S. left Iraq.

In an effort to give Hymowitz a little help, let's explore what Iraqis mean when they say they want "democracy."
According to an ABC News/Time poll taken in Iraq: 48 percent want the mulllahs to rule; 49 percent think military leaders should rule.

Whicheverone of those wins out, it doesn't look much like a democracy to me.

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