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 ...
Sorry is for mistakes, accidents. Never make a command decision that you are sorry for at the time you make it. It's the wrong decision.
The sign of a good decision is that a person of good moral standing makes it in a sense of happiness. Even when the decision will have consequences that will be tragic and painful. Not because of that sad consequence, but neither to avoid it. In an understanding that among the choices, here is the one that is right, and doing the right thing unlocks a sense of spiritual joy even in dire situations.
From Vice-President Cheney's remarks on Rush Limbaugh yesterday, and these remarks by the President, together with the actions made to date in re economic issues, one gathers that the Administration is in over its head and floundering, making knee-jerk decisions of monumental consequence on the basis of advice from the amoral, the greedy, and the fearful.
Mr. Bush your oath was to uphold the Constitution, to serve your duty under that grant given by We, The People. When you put the legacy you leave to the next person in your office above that duty to us all, you have gone derelict of that duty. And so you are floundering and you have put us all at great hazard. That will also be your legacy.
Mr. Bush, you have some little time left to correct that, if it can be corrected -- but "Sorry", is defeatist.
well we also had deficits during Reagan and the economy didn’t fall apart. The difference is the Fed didn’t unleash all this cheap money to pay for it. Reagan also didn’t have these nasty incentives to profit from bad ideas (govt backed freddie mac and all the bailouts).
Hoover was much worse. He raised taxes and especially on trade. Bush cut taxes and promoted free trade.
I would write GWB: “I abandoned the principles I ran on in ahopeless attempt to salvage my legacy, or at least get some sympathy from the MSM”
I truly believe we are living in a communist controlled country now without the overt evidence....but that is coming as well.
Saying that Bush sacrified free-market principles is like saying I sacrified my standing invitation for a week of hot monkey sex with Angelina Jolie.
“I’ve abandoned free-market principles to save the free-market system.” — George W. Bush, 2008
“We had to destroy the village in order to save it.” — Unknown armed forces spokesman during Vietnam War.
I’m with you, the tree of liberty must be refreshed indeed...
“Well done Bush, just before the end of your term, you’ve managed to utter the dumbest quote of your Presidency. This will hang with you like Clinton’s “I did not have sexual relations with that woman, Ms. Lewinsky” and Bush Sr’s “Read my lips, no new taxes.”
Yep, this will not only go down as the dumbest thing Bush ever said, but as one of the dumbest quotes ANY president has ever said. Every “10 dumbest things ever said by a president” list will have this quote in the list.
“I am sorry we’re having to do it,” Bush said.
By his actions he leads a once glorious free nation down the path toward communism and he’s sorry? That’s it?
Oh that’s right, he had no choice but to spend billions upon billions with Haliburton “rebuilding Iraq and winning the peace.” Too bad for us he was unable to comprehend what OBL’s stated intentions were...to bring America to it’s knees (financially.) Mission accomplished. No doubt the Haliburton group loves Bush. No doubt the socialists and the commuunists love Bush too. And since we helped OBL drive out the ruskies with money and arms, no doubt the ruskies are laughing their arses off at our financial peril. No doubt OBL has a great sense of self satisfaction having done to us what he did to the ruskies.
Bush managed to destroy in eight short years what this nation spent the last couple hundred years building upon...while our dads moms sons and daughters gave their lives abroad defending to death...freedom Mr. President. The freedoms long fought for and died for, all those freedoms you stole from us in 8 short years.
Well at least it is good to hear Pres Bush is sorry. I certainly feel much better now.
Interesting audio file of Thomas J. DiLorenzo. See if you notice any similarities between the Fascism started by Lincoln and continued to this day by Neo-conservatives.
I have responded to four of these threads... let me give you the short answer... screw Bush.
LLS
We also had savings and loan scandal and many banks failed after a period of lighter regulation. We do need regulatione even in a free market (not that this ever existed). This much is obvious. I think we should go back to the old days and not allow banks to get involved in investment-too much risk.
I feel stupid and ashamed for having ever supported this man and giving him the benefit of the doubt on his past iffy decisions. He is either a masterful, valueless grifter or a clueless, malleable moron or both. I used to think history would end up being very kind to him, but now I see that as wishful thinking.
It's become apparent that pretty much any conservative success we've had during his administration has come in spite of his "leadership".
The people in this country are in for a rude awakening. There are elites in this country that have debated about whether people need to be on a leash or if they can remain free and get along on their own.
Bush has fought on the side of freedom but it appears that the leash has won and there will be no one there fighting it now.
Good luck to all you perfectionists that want it your way or the highway. In a free country, that never works for long because someone else is always there to turn it their way.
what happened was, FDIC limits were raised from $40,000 to $100,000 and that govt protection gave banks an incentive to take on more risk. So yes there were bad incentives and bailouts in those days too and S&L was a big problem.
The difference with freddie mac and why it was much worse is that the whole point was for them to profit by seeking risky borrowers.
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