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This page contains a single entry from the blog posted on November 7, 2008 3:26 AM. The previous post in this blog was Hold the fondue. The next post in this blog is Brown and Westlund were no Barack Obamas. Many more can be found on the main index page or by looking through the archives.

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Friday, November 7, 2008

Breaking news: Bush rescue effort a confused mess

Wherein Wall Street finds much in common with Bourbon Street.

Comments (10)

BUSH?? Do you really believe that George W Bush Junior the idiot actually understands any of this??? He is watching Sports Center counting the days until he can split from his own nightmare.
A small white collar crime guy goes through the whole process for a bad investment deal that he (or she) gets blamed for...Many times they go to club fed for a while. THIS guy ruins the whole frigging world and gets off scott free. Something is very wrong with this picture. Today another 250,000 jobs that went away, one million since Jan 1 of this year alone. I expect un-employment to reach 15% by May of 2009. This is going to be a wild ride boys & girls.

Bush ruins the whole frigging world?

Wow! That makes him a pretty powerful guy. I guess he's not an ineffective dolt anymore then?

Afghanistan and Iraq were "ruined" long before the U.S. Military arrived. The housing bubble was occassioned by easy credit (blame the banks and mortgage originators), faciliated by lax GSE oversight (blame the Congress), and interest rates that were kept too low for too long (blame Greenspan). The decline of American manufacturing has more to do with Clinton (remember NAFTA) than Bush, and the commodity price bubble was the result of rising standards of living in the emerging markets (especially China, India, and Brazil) and unfettered speculation, which you can pin on Bush appointees, at least in part.

To his credit, the Bush Administration has prevented Al Qaeda from launching a second terrorist attack on U.S. Soil. He pulled out all the ideological stops to combat the disarray in financial markets. Imagine how the left would have reacted if he had gone full Hoover and said the market needed to correct itself.

But don't worry, OBAMA is coming: the blind will see and the sick will be healed.
Yeah: he's that good.

Darn those elite liberal-media newspapers like the Wall Street Journal.
Bush IS a confused mess. He finally showed genuine emotion when he teared up yesterday but that was because HE is the one who is hurting as his presidency ends.
The man is a sociopath. He can kill hundreds of thousands without feeling anything.
He has no curiosity about life and spends his days masking the missing parts of his soul.
Just wait 'til this is over and the insiders start writing their books. I suspect he was a whole lot worse than we thought, which is hard to fathom.
I'm just glad that it took a series of crimes to put him in power, and I wonder how Karl Rove is sleeping tonight as the power slips away.

Is this Bush's bailout plan? I thought it was Congress' bailout plan, passed only after enough wretched pork was added to get D's and R's on board. Didn't Barney Frank, Chris Dodd, Nancy Pelosi, and Harry Reid breathlessly tell the public that we absolutely positively had to have this bailout plan, or else the world would come to an end? The D's are in charge of Congress. Isn't the bailout plan the first sign of what's to come for the next four years?

I'll help Barack with his next speech. Can we noodle around in an area that we know absolutely nothing about, draft a bill that doesn't work, and then make it worse by adding pork to get our "leaders" to vote yes for it? Yes we can!

It's all of their bailout plan. The 3 stooges who walked out in the Rose Garden to announce it were Bush, Paulson, and Bernanke. Congress passed it. Bush signed it. We all got that.
I just wonder how many Bush supporters share their hero's delusional view of the crisis:
1. He bears no responsibility for making it happen.
2. It's a darn good thing he was president when it came along so we'd have him to deal with the problem.

That is the official Bush position and it sums up the profound disconnect he has with reality. And hearing his supporters rush in to try and prop up this loser, makes me wonder about their own grip.

Maybe it's time to take the ultimate Bush position: The bailout plan was given to George W. Bush by Jesus.

Watch his first press conf. in about an hour. Then spew your cynical message, or, better yet, participate in the solution.

I hope GM is not going to be bailed out. GM workers, yes, but not the company which could have mass-produced the EV1 but chose instead to continue making gas hogs. We should not reward corporations for bad decisions.

Articles about GM on the web today include "GM Opens First Russian Factory" and "GM Says It May Run Out of Operating Cash This Year."

You can share your thoughts on this and other issues at Obama's new website: www.change.gov


What is "cynical" about my message? Better yet, what is untrue about it? The plan that the "three stooges" announced was defeated by a mix of congressional Republicans and Democrats over Nancy Pelosi, Harry Reid, Chris Dodd, and Barney Frank's objections. And rightly so - it was a poorly thought out, badly written piece of legislation.

But days later, a heavily polished turd was prepared by Congress, not the three stooges. The last time I checked, Congress is the legislative branch of the federal government. The new turd contained enough pork that it passed. That was Congress' doing, not the stooges. Do you really think that Nancy Pelosi and Harry Reid wanted to help George W. Bush?

History shows that everyone, Republicans and Democrats (including both Clinton and Bush and Congressional leaders of both parties), had a hand in the financial crisis. What is "cynical" is to assign all of the blame to Bush, or to call this plan "Bush's rescue effort", as the original post did. The plan we have in place is Congress' plan, for good or bad, and they all ought to be ashamed that it only passed when it was loaded up with pork.

The Democrats fell for Bush scare tactics about the bailout which looked a lot like the tactics that were used to push for war against Iraq. Just like the war against Iraq, now that the Bush administration got what they asked for they have no idea what to do with it.

Then I would submit to you that Congressional leaders are the "stooges" for falling for the scare tactics. Not only that, apparently they must be incompetent, for crafting a bill which allowed a President powers which you believe he has no idea how to use.

If this is like Iraq, then shouldn't Congress have been smart enough to 1) not fall for the scare tactics, and 2) know that if Bush was to use the power they had given him in the legislation they crafted, he would screw it up?

The election is over. As is usually the case, there is more than one person to blame when something gets screwed up. Both parties share this one.


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