Bush Goes AWOL

...Some would say a good thing?

Bush Absent on Financial Crisis as Paulson Leads U.S. Response

By Catherine Dodge and John Brinsley

Sept. 18 (Bloomberg) -- This week, President George W. Bush held a state dinner for Ghana's president, surveyed Texas hurricane damage, posed with Youth of the Year award finalists, and met with Army General David Petraeus.

During that time, Bush has publicly uttered 160 words about the worst Wall Street crisis since the Great Depression, saying the government is working to ``reduce disruptions'' in U.S. financial markets.

As Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke confronted the collapse of Lehman Brothers Inc., the sale of Merrill Lynch & Co., the biggest stock market drop in seven years, and a government takeover of American International Group Inc., the president has been conspicuous by his absence.

``It's George W. Who?'' said Fred Greenstein, a presidential historian at Princeton University in New Jersey.

``The country is facing an economic 9/11,'' said Leon Panetta, former chief of staff for President Bill Clinton. ``To deal with that kind of situation, the president has to take charge and tell the country not only what is going on, but what he is going to do about it. You can't just leave it to the secretary of the Treasury.''

More here:

Bloomberg.com: Worldwide

Goerge W. Who? If only we had said that 8-years ago...

Quote:

---

Originally Posted by bkkandrew

Bush has publicly uttered 160 words about the worst Wall Street crisis since the Great Depression,

---

160 words too many!

Quote:

---

Originally Posted by bkkandrew

``To deal with that kind of situation, the president has to take charge and tell the country not only what is going on, but what he is going to do about it. You can't just leave it to the secretary of the Treasury.''

---

Better still he can leave it to the next President.

Anything bad happens and Dubya is like a deer caught in the headlights.

Response to 9/11 - Carry on reading childrens book.

Response to Katrina - None until he was poked with a cattle-prod.

Response to Financial Melt-Down - None.

Quote:

---

Originally Posted by good2bhappy

Quote:

---

Originally Posted by bkkandrew

Bush has publicly uttered 160 words about the worst Wall Street crisis since the Great Depression,

---

160 words too many!

---

Because the election is 6 weeks away, GWB may want to avoid to much exposure in speeches and press conferences on this. Hurt the GOP? Maybe. The polls are tight.

Perhaps that's why Paulson is the man.

He's not an economist. He's not an astronaut either or a shoe salesman.

Frankly I'm glad he's saying nothing.

^ Yes we all are, but he did learn to be quiet rather late in his career.

Quote:

---

Originally Posted by Texpat

He's not an economist. He's not an astronaut either or a shoe salesman.

Frankly I'm glad he's saying nothing.

---

Shouldn't he at least consult with economists and financial specialists, then issue a statement?
It's called leadership.

Quote:

---

Originally Posted by Texpat

He's not an economist. He's not an astronaut either or a shoe salesman.

Frankly I'm glad he's saying nothing.

---

he is not much of anything actually, so yeah he should just shut the fuck up and die somewhere,

Roll out the bandwagon boys!
All aboard!

You'll bash him no matter what he says, so why bother? Bit like King Sarkozy's foray into Georgia, eh? What a knob.

What's Gordy Brown had to say about the collapse of his economy?

Ummmm, that's different, eh?

I bet his Daddy's proud of him.

Quote:

---

Originally Posted by Texpat

You'll bash him no matter what he says,

---

he is a fool and a cretin who takes himself way too seriously, of course we will bash him no matter what he says. He can't construct an entire phrase without tripping on a syllable or make an idiotic sound,

it's like watching a retard on a stage, you can only make fun of him

He's basically an empty suit. Can't expect too much of him. Most of his handlers have up and left over the last 12 months.

What a way to leave to stage.

Quote:

---

Originally Posted by Texpat

He's not an economist. He's not an astronaut either or a shoe salesman.

Frankly I'm glad he's saying nothing.

---

Good point.

He's kind of like a cheerleader, as all Presidents will give the nation "pep talks" like a coach in a time of turmoil, which happens occasionally.

However....I just read that bush he's giving a speech to address the recent financial issue.

A politician is a politician. I won't be listeningl

^Bush was a cheerleader in college, not that there's anything wrong with that. Give him something to wave and watch him dance.

Nationalising a huge diverse insurance company is a bizarre move. But letting AIG would have unleashed hell. It was a company of titanic proportions. Last night they said that Morgan Stanley and even Goldmen Sachs were considering goign to the fed with begging bowls.

Interesting times indeed. The US government has shelled out 200 billion to buy floundering financial insitiutions and massively tightening market constricting regualtions are being written by ..... The GOP...... May you live in interesting times ;)

Bush just made a two minute speech on the crisis. Badly read with improper punctuation. Minor doofus, I'd think nobody is listening.

Quote:

---

Originally Posted by mad_dog

Nationalising a huge diverse insurance company is a bizarre move. But letting AIG would have unleashed hell. It was a company of titanic proportions. Last night they said that Morgan Stanley and even Goldmen Sachs were considering goign to the fed with begging bowls.

Interesting times indeed. The US government has shelled out 200 billion to buy floundering financial insitiutions and massively tightening market constricting regualtions are being written by ..... The GOP...... May you live in interesting times ;)

---

If you think that is bizarre, wait for the Ford & GM bailouts next week. The US Government will be a one-stop-shop for everything soon!

Quote:

---

Originally Posted by bkkandrew

If you think that is bizarre, wait for the Ford & GM bailouts next week.

---

Hasn't 25B in government loans already been given to them?

^Oh no, I am talking about a real bailout. :)

Quote:

---

Originally Posted by bkkandrew

Oh no, I am talking about a real bailout.

---

Apparently they had asked for 85B in loans but "only" got 25B.

You must be referring to "bailout" in the AIG sense. Nationalization?

^They have so many fancy names for it now, who knows what they will call it. But it will mean nationialisation in reality.

It will be utopia - you go and buy your Government car, insure it with your Government insurance policy and finance it with your Government loan, which you pay back from your Govenment owned bank, using money from a Government rebate cheque! :)

Quote:

---

Originally Posted by bkkandrew

It will be utopia - you go and buy your Government car, insure it with your Government insurance policy and finance it with your Government loan, which you pay back from your Govenment owned bank, using money from a Government rebate cheque!

---

Keep it up. BF is gonna green ya for this post.;)

I wouldn't think so, I get a red per day from that pr1ck...:(

Quote:

---

Originally Posted by bkkandrew

I wouldn't think so, I get a red per day from that pr1ck...

---

Thanks for the reminder :)

Quote:

---

Originally Posted by bkkandrew

But it will mean nationialisation in reality.

---

I think it's an oversimplification, AIG got a Fed loan in exchange of Warrants, they will probably not be exercised, and the loan will be paid back eventually, the government is not the shareholder, they just hold equity derivatives as collaterals

Quote:

---

Originally Posted by bkkandrew

you go and buy your Government car, insure it with your Government insurance policy and finance it with your Government loan, which you pay back from your Govenment owned bank, using money from a Government rebate cheque!

---

Eventually it would make a lot of sense to nationalize, I mean really nationalize all those banks. It's obvious that deregulation doesn't work. Bank service has never been so poor, management confuses their real clients with shareholders, this shit had to stop. Nationalize all the banks, restore real Banking service, not the silly crap that we have these days, and things will turn around. Banking is a strategic industry, they can't be let in the hands of corrupted barrons, it's the life blood of our economy.

Banks should be under strict government control, make a tiny regulated profit so they don't attract all those crooks shareholders, and provide banking service to the public like they are supposed to do. Banks should be a national public service, like electricity and water.

^ Vive la USA. And bye bye self-determination and self-responsibility.

Quote:

---

Originally Posted by Sir Burr

Anything bad happens and Dubya is like a deer caught in the headlights.

Response to 9/11 - Carry on reading childrens book.

Response to Katrina - None until he was poked with a cattle-prod.

Response to Financial Melt-Down - None.

---

One of Bush's people at the school was interviewed for NPR. Sorry, I don't recall his name. He explained Bush was signaled to remain seated until they had more information. Whether that's a lie I don't know.

Bush asked the Governor of Louisiana if she wanted to declare an emergency in order to allow the feds to take over operations. She kept hemming and hawing. She wouldn't give him an answer. I picture her on two phones. One with Bush the other with her Good Old Boys who are shouting in her ear, "Don't you let go of the reins! The relief money has got to go through state hands so we can skim off of it!"

Article says Fed money shipped to rebuild Louisiana is getting robbed by the locals.

t r u t h o u t | Billions in Katrina Relief Funds Missing


Bush's Treasury Secty has come up with a plan today concerning the bad Fanny Mae/Freddie Mac loans et al.. AIG was holding 500 million plus in bad loans made by Fanny Mae. You guys know that the two heads of Fanny Mae that were fired are part of Obama's advisory team, Johnson and Raines?

Quote:

---

Originally Posted by Jet Gorgon

And bye bye self-determination and self-responsibility.

---

it never works, that's why you need regulations, self-regulated industries in high growth sectors always lead to abuses, it just doesn't work

Quote:

---

Originally Posted by Butterfly

Banks should be under strict government control, make a tiny regulated profit so they don't attract all those crooks shareholders, and provide banking service to the public like they are supposed to do. Banks should be a national public service, like electricity and water.

---

Hopefully a middle way can be found.

One thing is for sure- commercial and investment banks have stuffed it up, badly. FNMA and GNMA have stuffed up, badly. Many insurance companies also. Deregulation has not worked, and the free market has failed in the banking and finance industry.

The people behind this failure are also the highest paid executives in human history. Greed is not good- a change of culture is needed.

Quote:

---

Originally Posted by Sir Burr

Quote:

---

Originally Posted by Texpat

He's not an economist. He's not an astronaut either or a shoe salesman.

Frankly I'm glad he's saying nothing.

---

Shouldn't he at least consult with economists and financial specialists, then issue a statement?
It's called leadership.

---

This crisis has been in the making for quite some time. Bush has been trying to get the dem congress to take some actions. Unfortunately nearly all of them are in the pockets of Fannie and Freddie.

Our knee jerk dems are doing their well rehearsed knee jerk blame Bush dance. So much for deep thinking or creativity.:rolleyes:

Quote:

---

Originally Posted by Mr Earl

This crisis has been in the making for quite some time. Bush has been trying to get the dem congress to take some actions.

---

:rofl:
or perhaps you've got a link?

Quote:

---

Originally Posted by raycarey

or perhaps you've got a link?

---

Forget how to google? :rofl:

Quote:

---

Originally Posted by Mr Earl

Forget how to google?

---

forget how things work here?
:ourrules:


back up your post with a link that "bush has been trying to get the dem congress to take some actions" "for quite some time" on the credit crisis.

or you could just run off like a scared little girl.

When I read the title I was as happy as when I read the one about Thatcher's funeral . . . . only to be disappointed again.

Quote:

---

Originally Posted by Jet Gorgon

^ Vive la USA. And bye bye self-determination and self-responsibility.

---

Under GOP rule . . . socialism comes to rescue the USA . . . . :rofl: Gotta love the irony.
Self-regulation for the greediest of greedy doesn't work.

Fukk-a-dukk . . . Enron and ------------------------------- I can't even name the others, there are too many, bankrupt, mismanaged, defrauding or foreclosed or whatever . . . not a healthy way to be.

Bush Called For Reform of Fannie Mae & Freddie Mac 17 Times in 2008 Alone... Dems Ignored Warnings
:afro:

^ he is the president, isn't it ? can't get anything done ?

good boy earl.

:dogrun1: