White House Philosophy Stoked Mortgage Bonfire: New York Times

New York Times:

The global financial system was teetering on the edge of collapse when President Bush and his economics team huddled in the Roosevelt Room of the White House for a briefing that, in the words of one participant, "scared the hell out of everybody."

Read the whole story: New York Times

Comments

[discussant]

Here we go again.
If everything fails, pardon the accomplices for their accomplishments! This will help the ailing housing market. Today's news.
"Bush also pardoned Issac Toussie, who pleaded guilty to making false statements to HUD and mail fraud as part of a massive housing scam."

[WeRDirt]

I can't help myself but every time I see this guy on TV he makes me laugh out loud. He belongs in the Hall of Shame and, man, everything he says is ridiculously comedic now. Am I bad?

[Alaskan4alaska]

Actually, I believe this problem to be more Republican in general than Bush specifically. We have become the wealthiest nation the world has ever known. Our middle class is the most productive on the planet (yes, that's true). The enormous increase in corperate profits simply has not been shared with those that are earning it. Pay for workers is stagnant, while top management now often makes a thousand times more than their staff. People are in trouble. They can't pay their bills. They can't afford the normal downpayment for houses. Fifty percent of American wealth is now held by just one percent of our population, about what it was at the start of the great depression. That was the only other time that Republicans controlled all three branches of goverment. Both of the other two financial powerhouses, (Germany & Japan) limit top pay to a multiple of entry level pay.

[discussant]

Some things we learned in these eight years: Abroad, Bushadmin went to war on information that was inaccurate, or fabricated. However, they blamed it on wrong information, not on global concensus. At home, Bushadmin closed their eyes to real information on big time corporate corruption leading to mortage meltdown- and kept on practicing disingenuous deregulation. Now they say it's not our fault-- it's due to global (economic) metdown. Well, other nations are doing much better than US! Look at China and the Euro-guys. One guy criticized the Bushadmin for eight years of stupendous economic callousness and finally, recently, won a Nobel Prize. But all those who objected to the fabricated war were shut up and shut down. What a legacy!

[grf67]

Well, we certainly can't have the current administration either responsible or accountable for anything. They are just helpless victims of circumstances beyond their control. Cowards and criminals, each of them.

[PallinAround]

White House accuses NY Times of "gross negligence" -- more blatant Freudian projection from delusional Republicans.

[Bluebell123]

There's something really fishy about how so many rich people got richer these past 8 years while ordinary people were encouraged to spend money they didn't have resulting in this global economic disaster. Is Bush really that stupid?

[Heyman]

S.E.C. ignored all the criminal activities. Blame? Our corrupt system. And the people blowing the whistles? All got demoted or fired.
I've followed this tenicle from these evil-doers. (I love to quote this Selected One.)
What's amazing? NO ONE, is accountable.
Just goes to prove? There is no justice. None. Equality is out the window. And Our "justice"? The average person? Depends on who you know. Not many of us know the "right person".
Corruption is "transparent", since Bush has been President.
I wonder what the "decider" approval ratings are at this time?

[lovethesinner]

So many crimes, so little justice. At least someone threw their shoes at him.

[bellabeach]

To bad he missed!!

[discussant]

Too little time for real HOME-work. Too much extracurricular BULL-fight.

[bluguy8]

not everyone can deal with the truth--Go Times

[Chbronze]

Once again the NY Times alienates half the populace by printing a partial story.

[melonman]

Keep dreaming neocon. "Half the populace" isn't on either your side or Bush's.

[unite4change]

Why is anyone surprised about Bush using scare tactics. He done it practically his whole time in office. And I thought Americans was the home of the brave.

[mairs]

They agree with the NYT take on it, I meant.

[mairs]

My entire family is Republican and they completely agree. Do you really think all Republicans think Bush did a good job? Nothing could be more naive.

[USA2Sense]

Way to go NYT - you're batting 1000.............

GWB - batting a big ZERO!

[puciret]

Maybe if he was impeached someone (Cheney or Rove) might explain it to him.

[puciret]

He's as innocent as Herbert Hoover was back in'29. Regulations???...we don't need no stinkin' regulations.