US President George W Bush has defended a rescue package to tackle the worst financial markets crisis for decades.
Mr Bush said the measures required the US “to put a significant amount of taxpayer dollars on the line…But I’m convinced that this bold approach will cost American families far less than the alternative,” he said.
When times are good the profiteers on Wall St. reap the benefits. When times are bad, instead of letting market forces adjust, all the rich folks suddenly become socialists. The government must step in with billions!
The real alternative, Mr. Bush, was tighter regulations to prevent this sort of catastrophe in the first place!
7 thoughts on “Bush: A Socialist”
what troubles me is that you have no clue how the legislature works. they did not have a filibuster proof majority and nothing happens without the consent of both parties. notice how the dems won’t vote for the rescue plan even thought they know they have the votes? why don’t they just pass it? your dem leadership and bush are on the same side of this one, how does that happen?
watch this, you might learn something (but i doubt it).
so even though the dems are in contropl now, i’m guessing you think everything bad that happens is because of the repubs?
Gee, Micadelic, in 2005 the White House and Congress were both controlled by the Republicans. It’s amazing how you guys can blame the inaction of a Republican-controlled Congress on the Democratic minority! Truly amazing. Even when Republicans are in control, every bad thing that happens is because of the Democrats.
Doesn’t that logic ever trouble you?
Please read this, you might learn something…
Barack sure has a lot more of that Fannie/Freddy dough in his coffers then Johnny Mac. How you gonna ‘splain that away?
But your right, Bush does have his socialist tendencies. I hate that about him. But from everything I’ve read this rescue by the Fed is the only way out.
I don’t agree with the notion that markets run best when entirely unregulated. The rich and powerful write the rules to their favor and the markets are not really free anymore after a while. I don’t understand the libertarian view that somehow the little guy is going to do just as well as the rich powerful guy in unregulated markets. The rich and powerful have a long, long history of fucking us over.
Right now, though, we have the worst of all worlds, the rich fuck us in good times and get billion dollar handouts in bad times. It’s bullshit, but I agree with Nader more than Ron Paul on the solution.
The Peoples Republic of Wall Street has a trillion dollar check from the citizens of the United States. Chairman of the SEC states that there is still “no guarantee” that this will work.
Fast acting was needed to stem the panic. I commend the admin. for acting fast. The coming weeks and months will tell if this was a prudent move as no one has a clue as to what they are buying for that trillion dollars.
Bonehead comment of the week was when McCain stated just a few short days ago that the US economy was in ‘good shape’.
I would say “yes” to your observation. These people are obviously not capitalists. However I would say your solution sounds wrong.
I’m not exactly sure what kinds of regulations you had in mind but…
1. If we try to regulate ethical behavior those regulations will always fail.
2. If we try to regulate people from making stupid mistakes those regulations will always fail.
Having such regulations creates an environment where people are encouraged to be unethical and stupid. Then when they start reaping what they have been sowing they run to the government asking to get bailed out because the government was supposed to protect them from their unethical behavior and stupid decisions.
So, if you are suggesting regulations that do not fit into either of those two categories, you might have a good idea, but if you do not, I think you are trying to fix a problem with more of what caused it in the first place.
Privatize profits, socialize debts