Posted on 12/17/2008 6:10:44 AM PST by meandog
US President George W. Bush said in an interview Tuesday he was forced to sacrifice free market principles to save the economy from "collapse." "I've abandoned free-market principles to save the free-market system," Bush told CNN television, saying he had made the decision "to make sure the economy doesn't collapse."
Bush's comments reflect an extraordinary departure from his longtime advocacy for an unfettered free market, as his administration has orchestrated unprecedented government intervention in the face of a dire financial crisis.
"I am sorry we're having to do it," Bush said.
But Bush said government action was necessary to ease the effects of the crisis, offering perhaps his most dire assessment yet of the country's economy.
"I feel a sense of obligation to my successor to make sure there is not a, you know, a huge economic crisis. Look, we're in a crisis now. I mean, this
(Excerpt) Read more at breitbart.com ...
“well, he does mention a ferret in is moniker....”
That’s gotta hurt.
I watch many sources of info and it sounds like the FTC allowed endless risk taking,with easy lending by FED ,which in theory might have been OK or seemed OK, but it allowed a huge unstable bubble , but now we learn the feds will selectively cover some investors losses, which leads to everyone getting in line, order based on influence.
The UAW is saying NO to cuts in benefits and at same time threating a great depression if THEY get laid off. Now why would they allow themselves to get laid off it it causes great depression? laid off in great depression???. This is that most massive union bluff of all time and press is playing them as victims.
BTW: I hate GWB and McCain, two reasons our party DESERVED to lose.
I don’t know who is giving W advice these days but they should be fired. He is making a fool of himself and all of us that have supported him w/ one stupid statement after another.
There was NOTHING “free market” about the Community Reinvestment Act whereby Congress told banks to loan money to unqualified borrowers in the name of “social justice.” This entire cascade of failures was caused by Congressional meddling in free markets. Now just look at the mess we’ve got as a result. And there’s no end in sight to Congress dictating to banks that they continue these failed lending practices.
Nice rewrite.
Bush sold America out to his socialist masters in the CFR. He will go down in my history book as a sociialist bootlicker.
I’m sure we will have the Bush Cult of Personality folks here shortly to sing how he will be noted as the best president in history. Oh, I left out hisplace om Mt. Rushmore.
George W. Bush, Republican Socialist.
I’m sure he will do even more damage to our republic before he leaves.
You are correct, hence the free market did not cause this and losing it will not repair it.
IMHO- to anyone laid off it IS a great depression to them, hubby in those ranks currently, although better news recently. UAW, Jorge,and all others who created or helped along this bubble deserve our contempt not our vote.
Unfortunately, the sheeple have spoken and until the Paul Revere for our time calls us to duty, we will be subject to the lunacy we allowed to be created in Washington. Something tells me fellow conservatives are saddling up as we speak.....
OMGosh! They’re right. He really is a moron.
“I’ve abandoned free-market principles to save the free-market system”
Also, if you have abandonded free-market principals hiow can you save the free-market? You abandonded it.
see tagline
ping
The prescription of massive credit and money creation which the Bush Administration is giving us may or may not be successful but one thing is apparent. Gold has risen at the rate of $20.00 per week for 8 weeks or 25% during that period as Bush is fixing the nation’s economy.
RE :he likes the profits of capitalism but doesn’t like the losses
He wanted to take credit for the economic boom and homeownership (which spread democrats out) but cant take the bust and at least wants it to be said that “he tried to do something to fix it” in the history books. And there are a number of ‘to the death’ W followers here that buy this, everything good is because of GWB (tax cuts, WOT) and everything bad, (housing bust, deficits) is someone elses fault.
Check out my tagline from October 3, 2008 and Freepers laughed:
6 posted on Friday, October 03, 2008 11:00:55 AM by sickoflibs (What’s Next ?? the feds buy up GM stock to save the economy??)
http://www.freerepublic.com/focus/news/2096644/posts?page=6#6
Here was my prediction October 1, 2008 (see comment #1)
FR Post: “Why Republicans supporting democrat’s trickle down investor bailout bill is political suicide.”
Posted on Wednesday, October 01, 2008 11:15:58 AM by sickoflibs
http://www.freerepublic.com/focus/f-news/2094884/posts
Its not the advisors—its Bush. He’s had different advisors for 8 years and he’s been an LBJ-style Lib on domestic spending issues since the first year of his administration. There is a lot to admire about President Bush but on limited government and spending issues, he has been an absolute disaster.
Over the last eight years, Bush has already sacrificed the bill of rights to “keep us safe” so why should he bother to preserve the free market to save the economy. Both are equally bad. Conservatives need to connect the dots. Hopefully, now that a Democrat is president, they will start to do this.
Circle the wagons around GWB ping
Reminds me of the famous quote from Vietnam: “We destroyed the village in order to save it.”
I believe that quote came from the esteemed Peter Arnett from an unnamed source (allegedly from an Air Force Major) and would seem to be more representative of his twisted logic (even with the insane leadership of Viet Nam) that of someone from the military. That this twisted logic is regurgitated by our national leaders (some 40 years later) is “very troubling”.
In the spring, Bush and Paulson, et al, were all over the news programs telling us the economy was sound.
The bubble burst just a few months short of them holding it together for the next administration.
Herbert Hoover thanks the Bush administration for elevating his position in history. This $Trillion+plus Bush boondoggle will be remembered as the worse economic crisis in history.
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