President Bush explains big bailout as high-stakes debate heats up.

President Bush explains big bailout as high-stakes debate heats up.

money.cnn.com

NEW YORK (CNNMoney.com) -- President Bush used a prime-time TV address on Wednesday night to press his case for a $700 billion bailout of the nation's shaky financial system.

Bush's proposal - to allow the Treasury to buy troubled assets threatening the health of financial institutions - aims to restore confidence to the credit markets.

(visit the link for the full news article)

Given that they will be meeting next week to decide on this, and the article insinuated heavily that all the deciders care about is getting their damnable recess this year, It would appear to be a done deal.

Regret for those who pay their mortgage on time. Hah. Hahahah. All Bush regrets is that his fathers little empire is falling down around his ears and his friends on wall street are going to come after his throat like the rabid dogs they all are if he doesn't bail them out.

money.cnn.com
(visit the link for the full news article)

The problems cannot be resolved by shifting the debts of the banks onto the taxpayer. That's an illusion. By adding another $1 or $2 trillion dollars to the National Debt, Paulson is just ensuring that interest rates will go up, real estate will crash, unemployment will soar, and foreign central banks will abandon the dollar. In truth, there is no fix for a deleveraging market anymore than there is a fix for gravity. The belief that massive debts and insolvency can be erased by increasing liquidity just shows a fundamental misunderstanding of economics. That's why Henry Paulson is the worst possible person to be orchestrating the so called rescue project. Paulson comes from a business culture which rewards deception, personal acquisitiveness, and extreme risk-taking. Paulson is to finance capitalism what Rumsfeld is to military strategy. His leadership, and the congress' pathetic abdication of responsibility, assures disaster. Besides, why should the taxpayers be happy that the stocks of Morgan Stanley, Washington Mutual and Goldman Sachs surged on the news that there would be a government bailout yesterday? These banks are essentially bankrupt and their business models are broken. Keeping insolvent banks on life support is not a rescue plan; it's insanity.

www.marketoracle.co.uk...

Does anyone take him seriously? He's just doing what he's told by the people who really run things. There is no fix and they know it. One last drop out of the US taxpayer and they'll leave us to our fate.

This whole situtation is complete BS, and Bush has turned a blind eye to it the entire time.



Watch both of these videos

Well the asians market are plundging... so... the Bush effect is in full force.

Bush should really go to jail for his hundreds of crimes, along with a lot of congress, the senate, most of the Bush administration staff and the federal reserve board. Let's not forget the bankers behind the collapse and a lot of top positions in weapons contractors and Blackwater.