Posted on 09/20/2008 4:36:58 PM PDT by BAW
For his entire presidency, George W. Bush has tried to avoid the fate of his father, brought low by a feeble economy. Now, as the financial crisis radiates far beyond Wall Street, Mr. Bush faces an even grimmer prospect: being blamed, at least in part, for an economic breakdown.
“There will be ample opportunity to debate the origins of this problem,” Mr. Bush said in the Rose Garden on Friday. “Now is the time to solve it.”
But in Washington, on Wall Street and on the presidential campaign trail, the debate has already begun.
Senator Barack Obama, the Democratic presidential nominee, denounces what he calls the Bush administration’s “failed philosophy.”
Senator John McCain, the Republican, claimed Friday that “the administration did nothing” to rein in the mortgage giants Fannie Mae and Freddie Mac, even though the White House did push some reforms on Capitol Hill.
And while economists and other experts say there are plenty of culprits — Democrats and Republicans in Congress, the Federal Reserve, an overzealous home-lending industry, banks and also Mr. Bush’s predecessor, Bill Clinton — they do agree that the Bush administration bears part of the blame.
(Excerpt) Read more at nytimes.com ...
"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus
Make no mistake, this is the beginning of a major push for federal control over huge sectors of the economy.
The world will be very different next year.
Thanks guys!
OMG this was Bush’s fault, who’d a thunk it?
Bush and Cheney violated the Geneva/Hague conventions when they tortured DemocRATS into swindling money from Fannie and Freddie.
Second..I am the CEO of two companies and the buck stops with me. The same applies to George Bush. He has done a horrendous job at managing the U.S. economy. This is probably due to bad advice from Bernanke and Paulson, but George Bush is ultimately responsible under his watch.
Friday, September 19, 2008 “Corporate Republic and the Aristocracy of Pull Come Together To Save Us All From Free Market Greed.” Dave Lindorff: Hang Onto Your Wallet! The Government is About to Rescue Us
http://theobfuscationreport.blogspot.com/
I know somoene in banking: 2/3 of a certain banks work force is set to lose their jobs in an upcoming merger, come December. Speculation suggests the merger is on a rapid track to sell to one of the top 5 thereafter.
The NY Slimes has its own economic problems ...known as near bankruptcy! I suppose little Pinch would blame Bush for that as well.
Of course, the media is going to blame Bush..more reason for McCain to get out front and tell again (proved by NY Times articles no less) that he and Bush (he should mention that he and Bush agreed on this one, but he won’t) tried to get Fannie and Freddie reformed.
Everyone knows that the financials were and are the problem...and Fannie and Freddie are Democrat to the core. Of course with David Gregory’s wife a big-wig at Fannie (and losing her job), the media will blame Bush..what else is new.
Between the credit crisis, bankruptcies, billion dollar buyouts and billion dollar buyouts, the economy has emerged as issue No. 1 in the presidential race. Which candidate do you think will do the best job reviving the U.S. economy?
Poll Results:
John McCain (R) - 67.4%
Barack Obama (D) - 20.8%
Bob Barr (L) - 1.0%
None of the Above - 10.8%
Total Responses -
725
1) Bush is not running for anything - and probably running away to texas and retirement ASAP
2) Slimes is “protecting it’s own”
Did McCain really say this? If so he's woefully wrong.
Geeze, thought the mortgage lending crisis started under Clinton’s administration.
Clinton-Cuomo
Second..I am the CEO of two companies and the buck stops with me. The same applies to George Bush. He has done a horrendous job at managing the U.S. economy. This is probably due to bad advice from Bernanke and Paulson, but George Bush is ultimately responsible under his watch.
If you are a CEO, I pity your stock holders! Prsident Bush has put forth bill after bill to CONTROL spending and the RATS in "Congress" shot him down every time. President Bush doesn't approve the spending, CONGRESS DOES!!
Only with the signature of the President, or him letting it become law without his signature. How many times has President Bush wielded his veto pen in his 8 year term?
Don't shoot the messenger...
This march to disaster started with Jimmy Carter in 1977 with the CRA ... Followed up with the removal of the 1933 Glass-Steagall atc on 1999 ... Another glittering liberal jewel turned to s*** that the taxpayers get stuck for.
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