Bush Amps Up The Fear Factor In Economic Speech
President Bush said Wednesday that lawmakers risk a cascade of wiped-out retirement savings, rising home foreclosures, lost jobs and closed businesses if they fail to act on a massive financial rescue plan. "Our entire economy is in danger," he said.
"Without immediate action by Congress, American could slip into a financial panic and a distressing scenario would unfold," Bush said in a 12-minute prime-time address delivered from the White House East Room that he hoped would help rescue his tough-sell bailout package. "Ultimately, our country could experience a long and painful recession."
Said Bush: "We must not let this happen."[..]
"With the situation becoming more precarious by the day, I faced a choice: to step in with dramatic government action or to stand back and allow the irresponsible actions by some to undermine the financial security of all," Bush said.
You know, if we hadn't heard some variation on this "mushroom cloud" speech more than a half dozen times from Bush over the last eight years, it might actually have some more weight. Not that there isn't a crisis, but he's threatening us with a "long and painful recession"? Has he not been paying attention recently? Steve Clemons:
Tonight, George Bush succeeded I think in scaring Americans that this crisis could be a systemic threat. Bush said "our entire economy is in danger."
That's the fear button. He pushed it. And he said the clock was ticking.
This seems like a bad episode of "24."
What is shocking about the presentation by Bush -- and the deal that is unfolding is that we don't see any acceptance of responsibility for the failure of his team's stewardship of the economy. We didn't hear acknowledgment that the compulsive deregulation mantra of Bush's political and economic allies created a massive bubble where lots of billionaires were created and now tens of millions of less fortunate Americans are holding the bill.
We didn't hear Bush say that it's time to reverse the tax cuts that he put in place to help those who have already benefited from the perverse finance and housing bubble that was pumped up.
We didn't hear a firm commitment from Bush to help the working families who hold these sub-prime and adjustable rate mortgages to stay in their homes and to help stabilize the lives of hard-hit Americans, their neighborhoods and their jobs. All the while, the macro players and big firms and their stakeholders are bailed out.
We probably do need to float major funds into the financial sector -- but there needs to be a quid pro quo written in to the deal, a new social contract that does away with the "winner takes all syndrome" that has helped rot out America's economic promise.
And we need to hear what comes after the bail out. This nation is heading into recession -- and is probably already there.
To think Clinton was impeached over a blow job. As long as there is a Republican is in a position of power America will never be safe.
Works Like a Charm
SHOCK DOCTRINE
welcome to it
"...we don’t see any acceptance of responsibility for the failure of his team’s stewardship of the economy. We didn’t hear acknowledgment that the compulsive deregulation mantra of Bush’s political and economic allies created a massive bubble where lots of billionaires were created and now tens of millions of less fortunate Americans are holding the bill..."
Says it all:
"There's an old saying in Tennessee — I know it's in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can't get fooled again."
"We can't not wait, until derivatives take the form of uh Mushroom cloud"
Terror Terror Terror!
This 'crisis' is the realization of the Grover Norquist Wet Dream: "fixing" it will command every dime of the country's capital for 30 years, so say good bye to social services, or any non-defense, non-Homeland, non-crisis expenditures for your lifetime and the lifetime of your kids...
Confusion reigns as the US struggles to cope with a potential economic disaster where even experts don’t have a definitive fix. In conditions of ambiguity and conflicting opinions, one of the worst coping tactics is "find-an-enemy-and-lose-your-confusion." This defense gets rid of confusion only temporarily, by accusing the other side of deception, ignorance, misguided policies, etc. The underlying confusion remains. Read more about this and some 20 other defenses against confusion in "Lethal American Confusion" described on <a www.AmericanConfusion.com
He forgot the part about the locusts descending on the earth and devouring all our crops.
BOO SHLIT!
L.A. Confidential @ 5:
Supposedly Condi was on Fifth Avenue yesterday make a last minute shoe run before the economic mushroom cloud forces the stores to close.
If he doesn't push the panic button (sending colin powell re: mobile labs... invade iraq; ashcroft patriot act...), then how is he supposed to get Congress to bail out his rich friends?
We now have the answer to what the Bush Doctrine is. Ready? Its...
"Make George's friends rich."
that's it. That's the only answer palin had to give.
We have seen the FEAR FACTOR PRESIDENCY in "action" before: After 9/11 Bush pumped up the FEAR FACTOR... and OCCUPIED IRAQ. His FEAR FACTOR Government brought us the "Patriot" Act.
And now his FEAR FACTOR treatment of the nation's economy is leading McCain's campaign to another Hail Mary play to try to STOP THE PRESIDENTIAL CAMPAIGN... certainly until his POLL NUMBERS IMPROVE.
"WHAT'S THE RUSH?" (Donna Brazille, this weekend on ABC News.) I agree... WHAT's THE RUSH? Take a breath. Put a leash on McCain... GET HIM TO THE DEBATE FRIDAY...
Don't allow him to bail out his own failing campaign!
Been there, done that with the fear factor, Georgie boy.
Fuck your rich buddies, Mr. President. Let 'em sweat. Take care of John Q. Public in all this or shut the fuck up.
Those were the same expressions we saw on his face as when he was doing his boogie man thing about invading Iraq. He gets that super serious look when he's trying his best to convey some of his largest lies.
FUCK YOU, President Ted Bundy! We survived eight years of your moral, legal, economic, genocidal administration....what could be worse?
Was this speech supposed to calm the situation or cause a panic run on the banks?
I favor the Chinese cure for everybody involved: Bullets.
All of a sudden the prospect of 2 gays in Massachusetts getting married doesn't seem as big a deal does it?
I doubt we will be hearing much about gay marriage bans from the party of financial ruin this time round.
Ruthless People @ 19:
Don't give him any ideas. He'll add that on to his doom and gloom list. If we don't do this there will be gay married couples moving in next door just before you lose you job, home, car, and most of your blood.
Translation: "Get behind this $700B buy-off NOW or you'll never retire"
Coup de Grace. . .Bush Style
Bush giving the country an economics lesson.
Priceless.
Thank goodness impeachment is off the table.
Otherwise, we'd be without a decider.
Aren't you the boy that cried 9/11 I mean wolf
If this is a real crisis, why didn't Homeland Security call an Orange Alert? I don't remember having one of those for about four years now. Better buy some tape and batteries before the stores close.
Mick Piobr @ 24:
If only Pelosi were leaving office in less than 2 months. It would be nice to get two for the price of one.
Ever true to his simian nature, Bush is flinging feces again. Wonderful.
Hey, Chimpy:
Eat shit!
Same ol' Bush: He- and his government-did nothing wrong: it was just a few bad eggs whose irresponsible actions threaten to ruin it for everyone. Like Abu Ghraib. Like Iraq. Like Katrina. The Bush doctrine (the one Palin already knows) : No accountability and pass the buck.
woody, tokin librul @ 7:
Bingo!!!
Why isn't Barack and the Dems shouting this from the roof tops?
The media is analyzing what happened 24/7 when it's 3 words.
Supply Side Economics.
Trickle down economics
voodo economics
I'm voting for Cindy.
pissed off patricia @ 20:
He would never say that. He's a uniter not a divider.
Except when he's dividing Americans from their assets.
I thought the part where he blamed the victims (people who were sucked in by predatory lenders) was touching. I liked how he blamed everyone and everything except (republican-lead) deregulation. And what is this bullshit that I've heard from both sides that now is not the time to blame anyone....let's fix the problem first... we'll have plenty of time to lay blame later......sure.
Remind me, what is it we should do with traitors?
let's see now, he's gotta be saying, now if the idiots will only believe me one more time and support this idiotic bail out proposal, i can totally wreck this country before i leave in a few months and my legacy is intact. Well, heartland, you going to trust this sorry excuse one more time ... or not.
One last rip off
Republicans: beyond hypocrisy, beneath contempt.
Wiped out retirement savings?
2 things:
1 - If there are no tax hikes, Bush will either be borrowing more money from other countries, thus causing the dollar to plummet in value and causing all the crap we import (which at the current rate, is almost everything regular Americans buy) to cost more OR he will have to borrow out of Social Security which will be wiping out all their retirement savings.
2 - What if we had put his privatization of Social Security plan into action now? Anyone who put it in at the start of the plan a few years ago and would be going to retire in the next year, would, if his "plan" isn't enacted, see their retirements gone according to him.
Why is it so hard for the modern conservative movement to admit that their ideology caused this and their ideology is a failure?
Does anyone even listen to or care what Bush has to say any more?
he American economy is strong and the fundamentals sound"
How many times have we heard Boosh utter this lie the past 8 years?
What were these assholes doing if it is so bad now? Were they asleep during the entire flight and we were on autopilot? I don't believe anything or anyone anymore. I think that we are all screwed and lied to and used. Meanwhile, Caribou Bimbo probably asked the Georgian president about the weather in Atlanta. if this were a different country, we could have a vote of no confidence right now and eject the buffoons in charge. SOS!
The boy who cried "wolf"
Emphasis on "boy" and on "miserable, lying sack of shit."
The more I hear/read about this 700 billion bail out the more something stinks about it. The fact that some of these Corp crooks said that they will not participate in the bail out plan unless they get there bonus packages tells me this is not a crises. This is pure BS!
Joe Schmo @ 34:
In the case of White House personnel, we should allow Valerie Plame to pull the switch.
Their ideology isn't what caused this, not following it is.
Bailouts = not letting the market fix itself. If you bail out failed businesses all the time, they will see no risk and continue to make bad decisions. No bailouts = bad businesses die and good ones survive (kinda like that there evolution thing).
DHavok @ 38:
Last night, the President again talked about how "much" of the money will be paid back.
"And we expect that much, if not all, of the tax dollars we invest will be paid back. "
What I don't understand is why the government doesn't insist that ALL of the money be paid back.
It seems to me that it would be simple to buy the "Toxic" mortgage backed securities for whatever we
decide to pay now, with the stipulation that if the government cannot sell it for that price or more in the future,
the bank will owe the government the difference.
If this plan is supposed th "rescue" the banks, then the government should expect those banks to be around
five, ten, fifteen years from now to pay us back.
I notice that this option is not even being discussed. Seems strange.
Has anyone heard if Sarah has found any more evidence that McCain supported regulation, so she can take it back to Katie Couric? Imagine Sarah having to give a speech on the economy.....or for that matter anything else, besides moose gutting.
I didn't get to see all of the Katie interview with Sarah. Did she ask her anything about the bailout and her opinion?
if michael hayden, john negroponte, michael mcconnell, robert mueller, colin powell, admiral fallon and all of their friends got together and said, "you know what? maybe it's time we arrested all the crooks on wall st. and in the beltway" -you would literally see everyone else in america, republican, democrat and every other political stripe, dancing in the streets all across the country.
enough is ENOUGH.
...and hurry hurry hurry it's an emergency,
We have to pass Patriot Act XIIV before Friday!!!
Summary of the speach:
"Amurika, I need you to bailout out Wall Street and the banks again like you bailed out my brother Neil is the Silverado Savings and Loan scandal in the 80's. We need another handout and more welfare from you. Don't expect anything in return for your financial commitment as my big business cronies and family members have taken all the returns on your investment in advance, as they have with the Iraq war I bilked you for also. Now bend over and spread em.
Thank you and God bless Amurika"
Naomi was right!!
Does this guy work for Bin Laden?
Sorry, you've used up any good-will and trust long ago. Fear got us into war and the patriot act. I'm not falling for it this time. I AM NOT AFRAID OF YOU.
The sky may very well be falling, there may be a wolf at the door, but I just don't believe a word you're saying anymore. Maybe what this country needs is a few really bad years of standing in bread lines and wondering where our next meal is going to come from to teach us a lesson.
I've been there already in my life and it taught me to appreciate what I have; it taught me empathy for those who are less fortunate than myself; it taught me that paying taxes is a patriotic thing to do if even one, single Iraq war veteran is living under a bridge or fighting a war without enough body armor because there's not enough money to help; it taught me that it takes a community, and yes even community organizers, to keep us all well and safe; it taught me that what kind of car I drive is less important than what kind of school my neighbors kids go to. I have a stake in the world that counters my selfish, greedy instincts, and I think it's about time "conservatives" learned a hard lesson in humility. Let the mother burn to the ground for all I care. I'll survive. My hands have seen hard work before. Maybe it's time the investment bankers got forced out of their luxury Manhattan condominiums and into a real jobs on a factory floor or construction site. Then maybe someone of them will realize that these numbers that they play with every day actually have real life people behind them.
Get McCain's geriatric butt down to Mississippi and get this thing going. I don't want a president who runs and hides from the consequences of his own ideas. Grow a pair, face the music and do the best you can. A lot of us simple Americans are working two jobs to make ends meet, so i think we can have a debate AND get this legislation passed. What are we? A nation of whiners?
"Widespread loss of confidence"? You should know, Mr. 19%.
Fuck off and die.
Say, you don't think he bears some responsibility for this, do you? Naw...'course not...
Bush's head should roll. If I never see this half-wit again on television after his term, i'll be ecstatic. In fact, i propose a national day of celebration the day he leaves office.
For as long as bush has been in office he has bragged about how the economy has always been able to bounce back. He would bring up the tech bubble popping, 9-11, and the wars. Then he bragged about home ownership be at its highest level ever. So what happened here, when in only a few months everyone notices all hell has broken loose.
Right here where I live, people have already lost their home, lots of them. Businesses have already gone out of business, lots of them. People can't find work, lots of them. This has been evident here for a long time now. Did the word just reach DC? What he is threatening has already happened here and people are dealing with it the best they can. Maybe wall street could learn something from the man on the average street.
He's just doing his job. Catapulting the propaganda, dontcha know.
Joe Subaru was more believable.
I give him credit for consistency. Even though the whole world knows he is a cynical liar, a morally bankrupt pretender, he persists with one more con. I shudder to think of the consequences if he gets away with this.
The scary truth is that there are a bunch of idiots who listened to him last nite who believed every word he said. You know the same ones who went out and bought a bunch of duct tapes the last time Bush opened his mouth of terror.
What credibility is Bush working from?
...and it gets Obama out of FL, where (gasp) he is making some gains. I swear, I think they will do anything to try and throw him off his game (ain't gonna work), including scaring the American People into a crisis. Bush/McCain/Paulson are feckless. As for the Chinese and Saudis, wouldn't the long term prospect of a stable American economy be better for them than the manic-depressive economic state we now find ourselves in? A $700 billion golden parachute is a manic request.
Among other Bush "Gifts" to the American Sheeple
1. USA Patriot Act - A 342 page document presented to Congress one day before voting on it that allows the government access to your bank and email accounts, as well as your medical and phone records with no court order. They can also search your home anytime without a warrant.
2. USA Patriot Act II - This one allows secret government arrests, the legal authority to seize your American citizenship, and the extraction of your DNA if you are deemed a potential terrorist.
3. Military Commissions Act of 2006 - Ends habeas corpus, the right to an attorney, and the right to court review of one's detention and arrest. Without this most basic right, all other rights are gone too since anyone can be detained indefinitely. Now anyone may be arrested and incarcerated and nobody would know.
4. NSPD 51 - A directive signed by George W. Bush on May 9, 2007, that allows the President to declare martial law, effectively transforming the U.S. into a dictatorship with no checks and balances from the Legislative or Judicial Branches. Parts of this directive are considered classified and members of Congress have been denied the right to review it.
5. Protect America Act of 2007 - Allows unprecedented domestic wiretapping and surveillance activities with a reduction in FISA court oversight. Probable cause is not needed.
6. John Warner Defense Authorization Act - Signed by George W. Bush on October 17, 2007, this act allows the President to declare a public emergency and station troops anywhere in America without the consent of the governor or local authorities to "suppress public disorder."
7. Homegrown Terrorism and Radicalization Act - Passed overwhelmingly by Congress on October 23, 2007, is now awaiting a Senate vote. This act will beget a new crackdown on dissent and the Constitutional rights of American citizens. The definitions of "terrorism" and "extremism" are so vague that they could be used to generalize against any group that is working against the policies of the Administration. In this bill, "violent radicalization" criminalizes thought and ideology while "homegrown terrorism" is defined as "the planed use of force to coerce the government." The term, "force" could encompass political activities such as protests, marches, or any other form of non-violent resistance.
When FDR said "We have nothing to fear but fear itself," he wasn't talking about the Nazis or Japan in World War II: he was talking about the Depression.
If McCain indeed fails to show for Friday's debate, Obama could do worse than to appear, read FDR's inaugural address, and leave.
Hey Republicans! Who has been running this show for the last 8 years?
JS@34 What do we do with traitors?
We certainly don't impeach them.
We don't point fingers.
Pardons for everybody!
Now lets go incarcerate some pot smokers!
A lady called in to washington journal this morning on c-span. She was blistering bush and every move he has made for the past eight years. I mean she was ripping him. Then in her next breath she said she was voting for McCain because we can trust him. She proceeded to say Obama was a liar and wouldn't admit he was a Muslim. She said he had made a fortune on Wall Street.
How can a mind that is so sane about bush, be so insane about Obama?
Well, the real test is to see how many Dems roll over and vote for this Bush-supported bullshit. (Oh, there will be a little tweaking of the demands, just to make people think that the Dems are fighting it, but over all, our money will go into the pockets of corporate pigs and then there will be nothing to do about. All of America's bad habits will go unchecked. All because we are a nation run by a two pro-capitalist parties.)
I'd like someone to say this: have cheney release the details of his 2001 energy task force meetings and we'll give you however much money you want.
I went online this morning to check the status of my social security and the SSA website was sluggish (overwhelmed?). As I'm a mere 41 years old, I'm kissing those checks g'bye.
We need an immediate emergency highly progressive TAX SURCHARGE for everyone over $100k per year up to a solid 92% for $100M per year.
Let's call it the Fat Cat non excessive exuberance program.
Pay as you go.
pissed off patricia @ 67:
It's like the drug addict that knows what they are doing is wrong and destructive but can't help themselves to more. This woman deserves everything that comes to her with a Palin/McCain presidency. Unfortunately the truly sane amongst us would get sucked down the pipe with her and her delusional kind.
Republicans: The party that wrecked the country
pissed off patricia @ 67:
Sadly, skin color and religion still rule the decision-making processes of far too many Americans. I suggest we herd these people onto their own reservation.
Did Mr. Clemons really believe President Bush would take responsibility for his part in this crisis? George W. Bush has never taken responsibility for anything in his entire wasted, free-riding, silver spoon-fed, pathetic excuse for a life - why would he ruin that perfect record now?!!?
You don't need to be afraid of these idiots by the way. This be afraid very afraid nonsense is really childish and cowardly.
The worse case they will torture and kill you-us for disagreeing with what they do.
Big Deal, bring it freaking on.
Mhhh, cry wolf much? So let's just say he's right...why should we believe him now?
It's his fault he and his party are not trusted, so he's going to blame us for not believing his doom and gloom after he's cried Wolf so many times since he was elected. I'm frankly amazed he didn't say the smoking bank was going to be a mushroom cloud on Wallstreet. Are we bailing them out here so we don't have to bail them out over there? Cheney is soon to come on and say the banking crisis is in it's last throes. 700 B is almost 2800 dollars per person. I say they freeze mortgages, and suspend evictions for defaulting on said notes. They should make it so the Banks have to sell the house before eviction. This has two benifits, one the homeowners are not thrown out on the street, secondly it saves the banks cash because by law they have to keep utilities hooked up and in many communities take care of upkeep of the forclosed home. They need to have provisions to save Americans although part of me want to laugh at all those people who have been forclosed on who bought Bush's line and voted for him in 2004. The folks in 2000 had no idea they have an excuse, the idiots in 2004 have no excuse. Bin Laden must be spinning in his cave, his plan worked much much better than I think even he and his evil minions could have hoped for.
Gotta give props to TinFoil Hattie (#58) for the "Joe Subaru was more believable" line. Ouch.
Well... I am NOT sorry to say that I refused to watch this imbecile. Whatever garbage he spews is meaningless to me or my nation. I already know that he represents a corrupt party, I already know that Clinton is the best Republican president we have ever had, and I already know that if the GOP are involved it is more than likely going to end in disaster. I think the MAJORITY of the money in this nation is controlled by 1% of the people, and when the media gives this issue this much attention, then THEY are in trouble... GOOD RIDDANCE! I will eat dirt if that is what it takes to see economic reform in this land.
You guys missed the setup:
"First, how did our economy reach this point? Well, most economists agree that the problems we're witnessing today developed over a long period of time. For more than a decade, a massive amount of money flowed into the United States from investors abroad because our country is an attractive and secure place to do business."
Those damn foreign investors - it's all their fault. But maybe Bush said this because they all laughed at him when he went begging at the UN.
"This large influx of money to U.S. banks and financial institutions, along with low interest rates, made it easier for Americans to get credit. These developments allowed more families to borrow money for cars, and homes, and college tuition, some for the first time. They allowed more entrepreneurs to get loans to start new businesses and create jobs."
"Unfortunately, there were also some serious negative consequences, particularly in the housing market. Easy credit, combined with the faulty assumption that home values would continue to rise, led to excesses and bad decisions."
So it's not really foreign investors; stupid American homeowners are the real cause of the problem. Bush isn't bailing out Wall Street and corrupt bankers and mortgage brokers - he's bailing out the poor dumb Americans who are responsible for this mess by writing a $700B check to a former Goldman Sachs guy.
And here is the icing on the cake for Bush - an outlay of these staggering proportions would cripple Obama when he takes office.
"WHAT ME WORRIED"
Remember how we used to talk about bush's dad rescuing him from all his bad business deals and we wondered who would rescue him from his eight years as the worst president ever? Well now we know. It's us. The people who had to suffer through his insane whims and his insane deeds, are now being asked to clean up the mess in aisle 43.
Ruthless People @ 19:
And to think the Mormons are spending all this $$$ to defeat prop 8 here in socal........which in light of our current financial condition. sounds really silly. Plus 2 guys getting married isn't going to take $10K from every working American.
Another assclown that ought to be arrested for being Anti-American. "We The People" my ass... Let's see - 700 billionaires at $1 Billion each ought to make up what Bushclown needs, right? But no - every American has to pony up $2300 and then this jackass wants no oversight???
His hippocracy knows no bounds. Doesn't he have enough for himself yet? We need a true Robin Hood right now! One who'll rob our money back from these Rethuglicans and return it to its rightful owners.
And McLameass ain't it!!!!!
while canvassing for Obama last night i talked to a lady and asked her who she was going to vote for, she responded, I'm going to have to vote for Mccain because I work for Merrill Lynch
good luck America , i'm making plans right now to move to Canada
The situation is so bad that the Chimperor will probably find it necessary to invoke martial law using John Warner's handy new law.
Is this a Joe Isuzu commercial we were watching. http://www.youtube.com/watch?v=R8H-D_KP3x8&feature=related
Great just great, if this is the case you know the news isn't going to be good no matter what.
US Army unit deployed to home front - Nonlethal force for civil unrest
Thanks George for f'ing up our country but good.
The Times Online (owned by Rupert Murdick) had an editorial in it declaring Paulson completely incompetent. That was a bit surprising considering who publishes it. But what took me back was this cartoon that appeared on the same page:
cartoon
OMG! is all I can say about it. This is blatantly racist, especially when it's directed at the next likely US president.
I say like other posters, let it burn. I work one full time job and one part time job. I live in an apartment, and probably have about $200 available in my checking account. The good news is, while it can get worse for me, I have been harden over the last decade. I can take it. My children and grandchildren can take it. Let these mofos eat each other, after all the certainly have been "fattening" up so they should be nice and tasty. And because they are lazy fucks, they will be tender too.
Strange how a year ago, the repubs were telling everyone not to complain about the economy because of the negative impact it might have and now they are the one who are crying wolf...
To Nicholas at 45:
It is definitely a conservative ideology (pushed by both parties) that caused this. When you allow corporations to become so gigantic that market stability depends on their success while at the same time pushing for comprehensive deregulation within those giant corporations and combine all of that with an administration that doesn't believe in government (let alone competent governance), you end up where we're currently at. Letting the market "fix itself" at this point could mean letting a recession become a depression. Then again, I'd actually like to witness credit markets drying up firsthand before I'd let them scare me into a 700 billion bailout. The bottom line is that when people's retirement accounts and life savings and potentially even their job stability or ability to secure an auto, business or home loan are tied to the success of a handful of banking and investment firms on Wall Street, sensible regulation is the only reasonable approach.
I have to confess I deliberately avoided listening to the fear monger and creep. This is his mess, he created, but fails to accept any responsibility fore! The Democrats just need to apply the brakes to this bullshit express train to chaos. Apply one bandage at a time. Apply oversight at every turn in the path. Go after the fat cats and grab their assets while freezing the bank accounts of many of them.
Obviously the Repukes and especially the NeoCons can not be trusted to speak truthfully and with real concern for the people. The Democratic leaders know they are under the spot light and they have a chance to seal up the election and drive the final nails into the casket of the murderous un-American neocon movement. Arrest Bush and Cheney and seize the bankers mansions for public liquidation. Let them feel the broken spirit that so many blue collar families have when losing their homes and the roof over their heads!
Make Wall Street PAY FOR ITs' OWN MESS!
I actually cried after this last night.
The president of the United States got up on TV and just blackmailed the entire American populous.
I'll never forgive myself for voting for this guy in 2000.
LITTLE F*CKING SONS OF FATHERS!!!
Piss on this guy
Gary@94
I respect your honestly Gary. We all make bad choices....at least you acknowledge yours.
God, I saw a clip of this speech on CBS news in Canada.
"Fear, fear, danger, fear, danger, threat, fear, fear, fear, fear, fear, danger, fear, fear, fear."
What a wretched little sack of twats that man is.
Kent Weed @ 92:
Actually, the administration believes in governing the shit out of the non-rich. If you count bullying oppression as governance.
"When there's blood in the streets there's money to be made."
Someone will make money off of this, a very great deal of money.
Left&Left @ 16:
Yep, it's time to put this guy and all his minions in padded cells for life!
How does that go again, fool me once shame on... no, fool me twice, NO... you can look up a butchers ass...DAMN!... it's the bulls ass...
I saw this last night.
He said 'outside' investors.
Why didn't he just say FOREIGN investors?
He also talked about the need for 'Regulations'.
Then WHY did they spend the last 8 years 'De-regulating' everything?
What a Fuck Hole.
paraguay must be looking pretty good to him now..
and ...
will the meme "Do you really want to change the course of a nation during a crisis?" succed?
Kent Weed @ 92:
I think you mean Corporate ideology. And it's not that the government "allows" this, it's that the government is
controlledowned by those corporations (as is the media and just about everything else). Life savings and jobs and homes are already lost in huge numbers, so what's left to save is not the corporate structure but the social fabric.Unfortunately, the social fabric is now held together by the very corporations that have raped and pillaged the economy. Without them we will have a global depression that will make the 1930's look like a vacation. What we really need is a structured government dismantling of these corporations, punishment for those who profited from them and the institution of rigid controls to insure that the public interest is protected.
Don't hold your breath ... they'll keep floating this turd until the entire well is poisoned. Then the whole house of cards will come crashing down (Bush the Fearmonger / Idiot - it's never easy to tell which one is speaking - actually used "house of cards" as a metaphor).
"19 Ruthless People Says: All of a sudden the prospect of 2 gays in Massachusetts getting married doesn’t seem as big a deal does it?"
Times of financial dislocation are the perfect time to blame the Other. Don't fool yourselves that the American public will suddenly grow wise and place responsibility where it belongs (like on the people who have been running the show). Divide and conquer is a classic tactic. There are already voices on the political right blaming this debacle on "minorities."
http://mediamatters.org/items/200809190021?f=s_search
Is the FBI going to arrest this guy, Bush, or not? I want to know.
Yours truly,
Bianca, aka The Woman in the Leopard Print Slip
Screw bush.
Why cannot the American public see what this asswipe has done to our country? Why cannot they see what conservatism has done to our country?
McCain will be much worse, I fear. And that Palin woman.....damn, she's dumber than a monkey on a stick.
Hey Nancy, is impeachment still off the table? Sheeshe, G W Bush. The WORST president in American history.
Oh, Irony... thy name is Bush:
"We do not support government bailouts of private institutions. Government interference in the markets exacerbates problems in the marketplace and causes the free market to take longer to correct itself."
-- Republican Party platform, 2008
Impeach the Chimp now!!!!!!!!!!!!!!!!
He only has months to line his cronnies pockets with our money, time to amp up the fear factor into over drive!
Bush's fear mongering last night was 100% disgusting! Any other President would have sought to impress on the American people that the situation is serious but appropriate steps are being taken to address the problem and everyone should remain calm.
What we got was President "Chicken Little"... the sky is falling... the sky is falling... panic... panic... panic... did I mention the sky is falling?
This transparent effort to scare the American people into throwing caution and common sense to the wind to give him what he wants was more than ridiculous... more than disgusting... come to think of it, there is a word low enough to express the utter depths of depravity that he has sunk to!
If you haven't contacted the Finance and Banking Committee members yet to say no to this crap... here are the links to their e-mails and a sample letter that you can customize as you wish:
Senate Banking Committee Contact Form:
http://banking.senate.gov/public/index.cfm?FuseAction=Contact.Form
House Committee on Financial Services Contact Form:
http://financialservices.house.gov/contact.html
Regarding the proposed Bail out plan...
Senators,
I agree that we have to do something but this Secretary Paulson's plan is not it!
I read the provisions of Section 8 under this plan and it is appropriately located there because you'd have to be crazy to agree to give this administration a blank check while granting them no review by the congress, the courts, and placing them above the laws of the land.
That is insanity! NO! NO! NO! To grant them this would be the unforgivable sin!
Lack of oversight and deregulation is what caused this mess and I want full oversight and accountability for any such bail out deal!
Secondly, there is no guarantee that this will work and I want it to be split into smaller tranches that allow for quarterly review to see if it is working before committing to astronomical sums in a carte blanch form like what Secretary Paulson is proposing.
Thirdly, by committing the country to this huge bail out it would limit the next President’s ability to handle any other crisis. It is imperative that either it be split into quarterly segments with full review, or the Congress must come up with its own counter plan immediately.
This can not be allowed to be treated as a financial “Reichstag Fire.”
1. I want an independent group to be formed to do this much like Resolution Trust corporation that was created to solve the S&L crisis and Home Owners Loan Corporation of the 1930’s.
I like Warren Buffet's Suggestion of Bloomberg for head of this agency and it should include Professor Nouriel Roubini who has been consistently right about our current crisis, while Secretary Paulson and Chairman Bernanke have been consistently wrong.
2. I want taxpayers to receive the title of ownership to the companies that we bail out and guarantees that the tax payers will receive the benefits of later sale of these properties.
3. Assets purchased by this group should not be inflated beyond their market value. Companies should not be rewarded for bad decision making...
4. Not one penny of our tax dollars should go to the CEO and upper level staff for "golden parachute" exit packages.
5. Liquidity to the banks should be supplied by Federal Loans, not by purchasing assets at vastly inflated prices.
6. As a condition for any bail out or loans, the Glass-Steagall Act of 1933 should be reinstated.
7. Mortgage holders should be induced to renegotiate terms to keep single home owners in their homes.
8. A special loan facility should be created specifically targeted at small business owners to provide them with operating lines of credit.
This last point is vital. I know many CEO’s of small companies who have hundreds of thousands of dollars of orders but they can’t fill them because they can’t get credit lines to purchase the parts. Small business owners provide over 65% of the jobs in this country and need to be given priority over the financial institutions.
Centrocitta @ 105:
or not, i'm afraid...
Nobody's gonna do a day of prison time for this, the greatest administrative/executive clusterfuck of all time...
106 General Jack D. Ripper
McCain will be much worse, I fear. And that Palin woman…..damn, she’s dumber than a monkey on a stick.
__________________________________________________________
Chimpcabobs?
I dunno, might be pretty good with some sumac and tzatziki sauce.
It'll be easy for sarah to eat one handed while clubbing baby seals.
All bull and no responsiblity. This is the republican way. Screw things up and let someone else clean it up. A la Reagan, Bush Sr. Nixon, Hoover, etc. The only good and great Republican was Lincoln.
It's not only the uber-wealthy who have benefited from the housing bubble. Greed isn't a function of net worth, and there was plenty of it around the table as these risky mortgages were being signed off.
Attempting to punish the rich in the process of unwinding this financial debacle will bring even more hardship to bear on those who are already struggling. People who continually frame this discussion as a "class war" obviously don't have a clue.
You can never trust a filthy lying republican and certainly not a bush!
Bush and his cabal is the reason we are in this situation. We need to put a lot of these people in jail or in the ground I don't care which but we need to do it now!
Though I've been totally out of the market for several months, I just received an e-mail blast from the president of the large firm with whom my financial planner is affiliated. Here are a (very) few highlights, but you'll get the point (and perhaps lose your breakfast)--but you won't be surprised.
"Legislators should quickly enact a bill without baggage and entrust the details to the government’s professionals. ... Although Secretary Paulson and Chairman Bernanke have been criticized for not being consistent in the use of government funding, their actions have been appropriately flexible given the changing circumstances. Various politicians have argued that the government shouldn’t have intervened. I would argue that these critics simply don’t understand how fragile the whole system has been. Unprecedented times required unprecedented actions."
He's no better than some Mafioso giving you the line about "what a nice family you have" and then forcing into buying some "insurance". I really fail to see any difference what so ever.
Gary@94 I'm guessing that you're kinda young.
It sounds as though you learned from a mistake.
Forgive yourself and move on, wiser for the experience.
Had you voted for Gore, the SCOTUS would have still appointed Doom - Boy.
peaceful easy feeling Says: It’s not only the uber-wealthy who have benefited from the housing bubble. Greed isn’t a function of net worth, and there was plenty of it around the table as these risky mortgages were being signed off.
Attempting to punish the rich in the process of unwinding this financial debacle will bring even more hardship to bear on those who are already struggling. People who continually frame this discussion as a “class war” obviously don’t have a clue.
You sir don't have a clue what we need is some justice for the american people.
Some long prison terms for these criminals on wallstreet and in the whitehouse.
And maybe a little education for you a stupid lying asshole!
republican = insanity!
Re: james Ratliff @ 120
Sorry, friend, a proud Obama supporter here, certainly not a Republican.
But the market IS functioning properly...it's called market correction. When we give a bunch of cash & no oversight & a free pass to companies to overleverage themselves with stupid risks, then this type of result is to be expected. It's counter-intuitive to reward money mismanagement with more money. We can't just say "well, we're already pregnant so we gotta deal with it" - WRONG, time to abort or give the proverbial baby up for adoption.
If we're going to bail out, then they have to give up something in return. I'm no financial expert, but how about something akin to a government bond system, where the taxpayers get stake in these companies for the investment of our tax dollars?? How about making them take responsibility for showering their incompetent executives with cash? (I dunno about you, but if I were to make a ginormous mistake at work that resulted in pushing the company to the brink of financial failure, I would NOT be getting a giant payoff when they fire me!)
So much for the republican argument of the last few months that we're not in crisis & we're not facing a recession! We went from "we're ok, we're ok, we're ok, we're ok" to "HOLY CRAP!" awful fast...
pef@115 Yeah, we middle class folk have just been raking in the bucks with that there housing bubble.
I am tired of seeing pot smokers thrown in the slam while the wealthy continue to rape, pillage and plunder til their wee black hearts' content.
After seeing my fixed (disability pension) income torpedoed, I would like to see some REAL criminals thrown in REAL prisons.
This used to be called "justice."
SATAN - THY NAME IS GEORGE WALKER BUSH!
So the Shrub is now using the economic equivalent of the "Mushroom Cloud" argument in order to stampede Congress and the nation into giving his administration $700B and carte-blanche to spend it. Is Congress so stupid that they can't see through this transparent scheme to bully them into doing something stupid, yet again? That this has to be phrased as a question says a lot about our Congress—or maybe the fact that I think there is some hope that they won't cave says that I still have a little bit of possibly unfounded optimism left.
124 rain Says: SATAN - THY NAME IS GEORGE WALKER BUSH!
http://www.youtube.com/watch?v=ecF95ITFjSQ
Chimpy could barely read the words on his teleprompter, much less understand what they meant.
George Bush is dumber than a box of rocks.
Basically another "gimmie what I want or um... BOO!" speech and you know there are thousands of idiots now freaking out because they're sure congress has fucked them and dumbya is here to save the day.
How about he gives back all the money he's stolen so far? I bet that would pay for a significant chunk of the bribe he's demanding.
Personally I really hope that this time congress finally tells the ridiculous chimp to go fuck himself and that they'll give the money to a real president after dumbya is long gone and we can start cleaning up the total fucking devastation the worthless scum sucking asshole has caused laying waste to an entire country. Heck of a job dumbass.
I think the entire world should start mailing pretzels to the feckless fuck. As a 'going away' present. He couldn't go far enough away for me.
by the way, where is this magic eighty-seven gajillion dollars going to come from anyway?? We're in debt up to our eyeballs, and I don't think China's silly enough to buy any more of our debt or bail us out any further
If I'm going to pay $14,000 to bail these clowns out (four in my family), I expect shares in those companies and the right to pay the clowns what their worth.
its time for pitchforks, torches, and ropes
So limp dick Democrats are going to vote on this piece of garbage and Chimp and his Wall Street crooks are going to go laughing all the way to the bank. Americans get screwed once again!
This is more of a political crisis than an economic one. Sure the economy is in trouble. But the campaign is worst. The Palin gambit didn't work. They realize that they are going to lose and lose big. They make it look like the Democrats are the engine of recovery and then tank the economy anyway. They now portray the Dems as responsible for the crash and either trust to the elections or cancel them because of the crisis.
was this moron trying to start a run on every bank in the country? and what message did he just send to the rest of the world? who will invest here now?
"Hi there! I'm Troy McClure!
You may know me from such popular films as 'Attack From Iraq!', 'Bin Laden:Dead or Alive' and 'The Fundamentals Are Strong'"
Wow -- such emotion.
Jeez. Glad garbage bag commercials are more exciting to watch.
The most important thing that needs to happen to bolster the US economy is to elect Barack Obama. I guarantee investor confidence will return when George W Bush is shown the door.
Mick Piobr @ 123:
Here in FL, where I was recently incarcerated, the state pays the county in which such prisoners are housed $280/day/person. Taxpayer dollars well spent?-not!!
Re: Mick Piobr @ 123
Strawman city, and a textbook "class war" mentality to boot.
All my friends in the trades did quite well in the housing boom. The wise ones who put a nice chunk away for a rainy day are still doing fine.
As somebody said on Mike Malloy's radio program:
I hate this man with the heat of a thousand suns.
Mission Accomplished, Wanton Boy. You've destroyed the country and blamed it on us -- not on your wars or your deregulation or your tax cuts for the rich.
Go home to Crawford -- and then go straight to hell.
OT--
Julie Brown ("Homecoming Queen's Got a Gun") debuting her new "Ex-Beauty Queen's Got a Gun" on Stephanie Miller now.
F'ing hilarious!!
I'm surprised the Chimperator didn't thread 9/11 and terrorists into his speech, since he once again tries to scare everyone into accepting his position.
It's times like these when I realize that having nothing means I have nothing to lose.
We don't have a bank account. We don't have a credit card. We don't own property or owe on anything. So while we may be struggling through the day to day, we aren't losing a life savings or any pensions etc.
Small mercies.
skrpune @ 129:
They'll do it. They'll do it because buying a country is a lot easier than invading it and paying for soldiers, machines and ammo.
fastfeat@140
Some very funny shit! God, we need a laugh.
So bush is now officially, one of Phil Gramm's, 'Whiners'.
Shock and scare.
woody, tokin librul @ 4:
The worst travesty is that we now know beyond any doubt that Bush stole the election in 2000 with hacked Diebolds and caged voting. Probably stole it in 2004 too.
And the American people let him slide.
This has been the #1 issue for me and it should have been the #1 issue for this nation since Nov. 2000.
Bush and his cohorts were criminals going in and they will be criminals going out.
I'm in favor of giving $85,000,000,000 to America
We Deserve It Dividend.
To make the math simple, let's assume there are 200,000,000
bonafide U.S. Citizens 18+.
Our population is about 301,000,000 +/- counting every man, woman
and child. So 200,000,000 might be a fair stab at adults 18 and up..
So divide 200 million adults 18+ into $85 billon that equals $425,000.00.
My plan is to give $425,000 to every person 18+ as a
We Deserve It Dividend.
Of course, it would NOT be tax free.
So let's assume a tax rate of 30%.
Every individual 18+ has to pay $127,500.00 in taxes.
That sends $25,500,000,000 right back to Uncle Sam.
But it means that every adult 18+ has $297,500.00 in their pocket.
A husband and wife has $595,000.00.
What would you do with $297,500.00 to $595,000.00 in your family?
Pay off your mortgage - housing crisis solved.
Repay college loans - what a great boost to new grads
Put away money for college - it'll be there
Save in a bank - create money to loan to entrepreneurs.
Buy a new car - create jobs
Invest in the market - capital drives growth
Pay for your parent's medical insurance - health care improves
Enable Deadbeat Dads to come clean - or else
Remember this is for every adult U S Citizen 18+ including the folks
who lost their jobs at Lehmann Brothers and every other company
that is cutting back. And of course, for those serving in our Armed Forces.
If we're going to re-distribute wealth let's really do it...instead of trickling out
a puny $1000.00 ( 'vote buy' ) economic incentive that is being proposed by one of our candidates for President.If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!
This is a far cry from "Let me assert my firm belief that the only thing we have to fear is fear itself."
Left&Left @ 144:
I know lots of people turn on Cspan early in the morning, but if I didn't listen to Stephanie Miller in the AM, I'd have difficulty making it through many days.
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