Senator Reid Slams Bush\'s Handling Of The Economy

Senator Reid Slams Bush's Handling Of The Economy

New York Times   |  STEVEN LEE MYERS   |   March 17, 2008 05:57 PM


digg Share this on Facebook Huffpost - stumble reddit del.ico.us RSS

As President Bush welcomed the Federal Reserve's sweeping intervention in the financial markets, his administration faced accusations Monday that it supported the bailout of a prestigious investment bank while doing little to address the hardships faced by Americans facing foreclosures on their homes.

After conferring with his economic aides at the White House in the morning in the first of two meetings on the turmoil, Mr. Bush singled out the Treasury secretary, Henry M. Paulson Jr., saying that he had shown "the country and the world that the United States is on top of the situation."


 
Comments
63
Pending Comments
0
iPhone App Promo

Want to reply to a comment? Hint: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to

View Comments:
Page: 1 2 Next › Last » (2 pages total)
photo

Shall we extoll the virtues of unregulated markets and laissez faire capitalism? I mean, with the exception of companies like Bear Stearns and the like. After all, they provide all the value-added jobs in the economy, don't they? We need to make sure they don't collapse entirely. If they do, the entire economy will collapse . . . won't it?

When George Santayana said "those who don't learn from history are doomed to repeat it", he may not have been thinking about the average American citizen, but he was - nevertheless - presciently describing the average dolt living in this country right now.

    Favorite    Flag as abusive Posted 12:55 AM on 03/18/2008

"Mr. Bush singled out the Treasury secretary, Henry M. Paulson Jr., saying that he had shown 'the country and the world that the United States is on top of the situation.'"

Or, in other words, "Good job, Brownie!"

    Favorite    Flag as abusive Posted 11:19 PM on 03/17/2008

The bush family is scum. They are nothing but thieves stealing from the public trough. They've always been interested in only one thing...enriching themselves at the expense of others.
OF COURSE w would support Wall Street. The ONLY thing he cares about is...the almighty dollar. Oh! But wait!!! The almighty dollar is almost worthless under his watch.

To think there's fools out there who couldn't see through this man for what he really is and actually voted for him. I still find it incomprehensible that anyone could ever trust him with anything, let alone running the country. Thanks a bunch guys.

    Favorite    Flag as abusive Posted 10:56 PM on 03/17/2008
photo

You got it. It was about thievery, NOT about democracy, terrorism, 9/11, WMDs, national security. All of it was just about how much money you can steal in 8 years, and how to bankrupt the country. That was their plan from the very beginning. Not many people understand why they (the neocons) went to war. It's not about ideology. These people don't have ideals. It's all a front for white collar crime. Sure we have their BS they fed the MSM, which changed as each reason was revealed as a lie, and then a new reason was put forward in it's place. Without the war, there is no way to mortgage the country to the hilt. All the money is offshore now. Wheelbarrows full of money missing in Iraq. 800 million lost by the Pentagon. Cronies became filthy rich on no bid contracts. Oil prices sky high, which was part of the plan.it's no coincidence the entire administration has a background in oil. People think it was about securing an oil supply. BS. It was about keeping the price of oil elevated. Any moron knows instability in the Middle East leads to skyrocketing oil prices. This has been a heist from the very beginning. Just the greatest wealth transfer in the history of the country, perhaps the world. 3 trillion dollars down the drain. If the country was sent broke, then they could take away any remains of the New Deal. They tried it with Social Security, it didn't work so they gave up that plan and just stuck to the thievery. The country and the economy has literally been destroyed over the last 20 years as politics has moved further and further to the right. Corporations control the Government, and corporations determine the course of the country, and write the legislation. The MSM has people convinced it's all about the jihadists and national security. Bush singing on television making fun of his 8 years of f****ng over America, and the Republicans who watch FOX, are so stupid, they probably think that's cute. What a joke. If you repeat a lie enough, it's still a lie, even if massive amounts of morons believe that lie.

    Favorite    Flag as abusive Posted 03:25 AM on 03/18/2008

doesn't anyone else hear the string quartet playing on the promenade deck of this sinking ship?

    Favorite    Flag as abusive Posted 10:32 PM on 03/17/2008

Ya, but this time the sharks are on the deck.

    Favorite    Flag as abusive Posted 12:12 AM on 03/18/2008
- TN I'm a Fan of TN permalink

Most of the, poor, people that vote republican have been trained to despise the word entitlement. To get it across to them what has happened, bailout, they don't quite understand. It needs to be called of Business Entitlements for their heads to wrap around it.

    Favorite    Flag as abusive Posted 10:30 PM on 03/17/2008

Average Americans go bankrupt while richies are immediately BAILED OUT by Bush with OUR tax dollars.

Bush takes care of his NANNY STATE FOR THE RICH & CORPORATE WELFARE QUEENS.
The CEO will get even richer on middle-income Americans' tax dollars while screwing their taxpayer benefactors.

    Favorite    Flag as abusive Posted 10:10 PM on 03/17/2008

This free market economy has been proven to be a joke hasn't it. Everyone of you who thought that deregulation is better because private companies will run these industries that were once run by the government more efficiently were wrong. This is what you get corruption and greed. Bear Stearns should have been left to capitulate under its own stupidity, corruption, and greed. They were bought out by JP Morgan anyway. A true free market would have let this happen instead of the US Taxpayer bailing them out.

JUST WAIT UNTIL THESE CORPORATIONS DO AWAY WITH SOCIAL SECURITY AND MANAGE YOUR PERSONAL SAVINGS ACCOUNTS

    Favorite    Flag as abusive Posted 10:05 PM on 03/17/2008

Let's be clear: this is NOT a free market. In a free market, Bear Stearns would have died a quick death. A free market does not protect anyone. This is anything but a free market. It is a market of the elite, for the elite, and by the elite.

Welcome to the plutocracy.

    Favorite    Flag as abusive Posted 11:48 PM on 03/17/2008

Are we going to bail out Carlyle Capital this week, too. I read last week that they were expected to collapse this week.

Carlyle Capital? It's a sub of Carlyle Group.

Carlyle Group? Principals include George H.W. Bush, George W. Bush, James Baker (Sec of State under Daddy Bush), and other luminaries from the Bush/ Clinton/ Bush days.

    Favorite    Flag as abusive Posted 09:56 PM on 03/17/2008

The Carlyle Group used to do a lot of business with the Bin Laden Group.

    Favorite    Flag as abusive Posted 10:07 PM on 03/17/2008

Heck of a job, Henry

    Favorite    Flag as abusive Posted 09:54 PM on 03/17/2008
photo

bush gives middle america the finger every time and the upper 5% the spoils every time.
big oil, big pharma, haliburton, credit card companies, epa clean air standards, cafe standards, bankruptsy rules, wall street, it doesn't matter.

bush is actively trying to kill off middle america.

    Favorite    Flag as abusive Posted 09:50 PM on 03/17/2008

more appropriately.....bush is actively trying to kill america.

    Favorite    Flag as abusive Posted 10:33 PM on 03/17/2008

Well, he's doing a "heckuva job there, bushie."

Actually it's Condi and Ben who are running the country, with occasional input from Dick.

    Favorite    Flag as abusive Posted 02:44 AM on 03/18/2008
photo

he has killed America.

    Favorite    Flag as abusive Posted 03:30 AM on 03/18/2008

"What's next," could be all those foreign lenders who are losing money on the dollar giving Bush some ultimatums, and Bush having no choice but to kow tow to their demands. Waging war with foreign money lenders doesn't make you the sharpest tool in the shed.

    Favorite    Flag as abusive Posted 09:20 PM on 03/17/2008

..

The Saving and Loan fiasco, Energy deregulation, Home land Security, and unjust war. The so called "tax and spend democrats" have never spent taxpayer dollars and expanded government like these RNC self proclaimed "risk takers" and wanabe "benevolent dictators." How many more of these RNC presidents will claim they are Lincoln, preach small government and conservativism but really pander to the rich, increasingly burden the poor and middle class, start wars and deregulate whole sectors of the economy for short term financial gain of cronies (even bailing them out with taxpayer dollars) at the expense of working people. The RNC is crucifying democracy and the United States of America. The Republican party has succumbed to the greedy arrogant idiots Eisenhower warned us about.
.
.

    Favorite    Flag as abusive Posted 09:08 PM on 03/17/2008

And he better make sure he keeps the American citizens on the bottom of the situation.

    Favorite    Flag as abusive Posted 08:49 PM on 03/17/2008
photo

Bush made sure there were no controls over predatory lenders. Alan Greenspan, in addition, played like Sergeant Schultz in the TV series, Hogan's Heros, who kept repeating: "I hear nothing, I see nothing, I know nothing!" Bush failed, early on, to pop the bubble despite the warnings. Bush simply let it build much like he ignored the dangerous implications of some 40 presidential briefings concerning Osama bin Laden before 9/11.

    Favorite    Flag as abusive Posted 08:41 PM on 03/17/2008
photo

so its time to do somerging with these evil monster. Suggestions?

    Favorite    Flag as abusive Posted 03:38 AM on 03/18/2008

Sorry I am not going to make a decision until and unless Limbaugh tells me what to do and what to think. He said Hussein Obama is the cause of all of these economic woes and but for his candidacy this economy would be doing alright. Lambaugh believes that because of all the money Hussein Obama raised in his campaign, it has caused the stock market to crash, banks to stumble, the dollar to fall, the price of oil to rise and confidence in the U.S. to lessen, for the flu virus to spread, for the sub-prime disaster all because people took their hard earned income to send in money to Obama's campaign.

Further Limbaugh believes that because Obama did not properly hold his hand above his heart when singing the national anthem, it has caused retribution from the most high powers that is bringing these maladies to the United States. Additionally Farraro has indicated that none of this would have happened but for Obama being black!!!

Limbaugh's prescription for the economic woes and Farraro's prescription to these economic problems: FIND SOMEONE BLACK TO BLAME! and politically lynch them. After this happens everything will become better.

    Favorite    Flag as abusive Posted 08:38 PM on 03/17/2008
Page: 1 2 Next › Last » (2 pages total)
Comments are closed for this entry

You must be logged in to reply to this comment. Log in  or  Connect