Bush to Make Statement on Financial Crisis in the Morning - Will He Use Executive Powers?

I called this in my last post,...... fear mongering.

He still thinks this is the ONLY bill that will work,..... I call BS!!

Did you notice the way he hesitated just before he said "growth of our economy"?

He's trying to pull a fast one,....

Later,...... Ausable_Bill

Well Bush just spoke. Here's quick summary:


He looked nervous, tense, angry and fumbled a few words/sentences and seemed to hesitate and forget some lines. The political pundits all unanimously agreed right afterwards that he did a horrible job of reassuring anyone, public, investors or congressmen.
One pundit expressed that this won't budge any vacillating congressmen at all.

The theme of the short speech was basically that: "Legislation is a contentious process" and the most important thing he said was something along the lines of "it doesn't matter the path that a piece of legislation takes to get ratified, all that matters is that it does get passed" so the ends over the means so to speak, so basically he's saying he's very determined to get this thing passed and that he will begin talks immediately with returning congressmen tomorrow.
He expressed regret that the bailout didn't get passed and one of the most important statements he made was that this bailout will mean that tax payers will most likely get all their money back because as he said government will just hold these toxic assets they will purchase until the markets rebound and then they will sell them off for profit and tax payers will get all their money back. On the other hand if the bailout is not passed he said taxpayers will lose much more money, and he used yesterday's stock market plunge as an example noting how 1 trillion dollars was wiped out.
He offered zero consolation or patriotic speech, he surprisingly did not use the word 'america' even once to my recollection and didn't say anything about the will or strength of americans to overcome and triumph over hardship or any such cliched things, he came out and spoke very tersely and humorlessly and then sped off.

Bush is on auto-pilot! What a waste of air time. How much are we paying him? He has a serious case of short-timers syndrome. Or he is drugged up.

But I am sooo glad the address wasn't of a more serious nature.

[edit on 30/9/2008 by kosmicjack]

This comment scares me, "It matters not by what path a bill becomes a law, as long as we get a law." Not an exact quote, but close enough for government work.

They realize that the American public will not accept a "blank check" law to save bankers. How hardheaded can they be to not quickly begin working on a bill that will FIX the problem as well as soothe the symptoms.

They have already been working on this for over a week, in that time they could easily have gotten the financial statements from the individual entities (financial institutions) that need the emergency assistance. They could already have a VALID price tag for the "bad paper" they plan to purchase.

Of course, just the concept of the Government owning the paper for one of my mortgages gives me such a fright I cannot put it into words, all I see is a giant neon light flashing Eminent Domain. That is my personal nightmare thought in this.

And the stinking pile of manure that we keep getting served that the taxpayer will recoup most of it back in 5 yrs is so ridiculous, again, there are no words for it.

The housing bubble has burst. There is NO WAY for those overpriced mortgages to get reimbursed, the best possible scenario is 40-50% recoup. That is after proper valuation of property and a resale that doesn't default on the contract.

If the government is going to step in with all it's power and glory, then why not pass a law that revalues the property involved and give debt forgiveness on the differences in the amounts, also giving debt forgiveness to the financial institutions holding the paper. Wouldn't that basically solve the problem?

Does anyone think now that yesterday's market plunge was a fabrication, i.e. manipulated from within somewhere? The fact that the numbers plunged an exact 777 on 9/29 (2+9=11 ........9/11) and I read somewhere else, I forget where I think godlikeproductions that Paulson or whomever pulled 200$+ billion from the markets yesterday or something to that effect. It seems like the controllers are perhaps trying to send a message to give Bush ammo to use as a scare tactic "See, the market plunged 777 and lost $1+ trillion yesterday so if you people don't pass this bailout, you will lose even more, you will lose your pensions and retirement funds!"

Seems like the big drop yesterday was manufactured for whatever reason to facilitate the passing of this fraudulent bailout.

BUT..................no executive order like alot of you were yapping about. Interesting that alot of earlier posts were all focused on that idea.

reply to post by redhatty


I'm a complete and utter ignoramus when it comes to economics and finance but even I KNOW how much of a hysterically laughable JOKE is the notion that tax payers will get all their money back from this fraudulent scam perpetrated by these wallstreet and fed thugs. There's no way we'll ever get our money back on those toxic assets no matter what will they concoct.

Originally posted by wdkirk
BUT..................no executive order like alot of you were yapping about. Interesting that alot of earlier posts were all focused on that idea.

It really is too early for that. I mean nothing has really even happened yet comparatively speaking to what COULD potentially occur, that's why I don't quite understand the doomsayers who thought he might declare martial law at this speech, there hasn't been a single riot or rebellion yet. I think it's all a possibility right around the corner but I think it's way too early for martial law or 'executive orders'...maybe after this week depending how the final bailout attempt goes if the markets really crap their beds then who knows what can happen.

reply to post by wdkirk


Hey I'm happy about that - glad to be wrong.

However, I don't think our speculation is unreasonable given the way this President and his administration have consistently used fear and scare tactics to manipulate public opinion. If you really think we are so far off base then I suggest you do a bit more research - on ATS or otherwise.

Besides, this is a conspiracy web-site, last I checked. If you are so sure things are all sunshine and roses, why are you logged on?

reply to post by rufusdrak


Noory on c2c generally has good solid economic experts on radio. Also, Alex Jones has a good selection of financial experts that appear regularly.
Bush looked tired during the speech. Honestly, I don't understand why rich people want to be president anyway. I would just play golf, get drunk, etc.

reply to post by rufusdrak


Yeah, it seems to be a little bit like that temporary income tax that we never quit paying. I have a VERY hard time believing that the tax payer would somehow "profit" from this. I would like for someone to explain to me how it would work, in a believable fashion of course.

reply to post by Karlhungis



Haha, you didn't think he meant the average Joe would benefit, did you? So innocent, so sweet to think that way. Sure, the treasury will get some money back, eventually. And then that money will stay right where it is and line only the pockets of those the government deems fit to run things then.

The American public is being held hostage by Wall Street and the Executive Branch. We are being held hostage by fear and intimidation on a grand scale. "Pass this, or we'll do absolutely nothing else!". Is this the weapon they have decided to resort to? More threats?

Ridiculous. Look, the DOW plunging was more exciting than most sitcom drama with the way the analysts were going absolutely hysterical. Do you realize the markets are set to open with a huge rebound? THE PLUNGE YESTERDAY WAS BASED ON ABSOLUTELY NOTHING EXCEPT FEAR AND EMOTIONS. Look at the results of the European markets this morning. NOTHING! Absolutely nothing changed.

Paulson said yesterday the banks can still function (although, not to the greatest extent or corporate greed), and the Market still works. Yes, there was a plunge. Yes, we all lost money. But no, we did not die without that ridiculous FAILOUT bill being passed. Your 401k, pension plans, etc., yes, they took a hit. But those are long term investments. Those will ride the storms and eventually rebound.

To hell with every analyst putting an emotionally charged gun to my head and saying "YOU DON'T UNDERSTAND! OH GOD! WE'RE ALL GONNA DIE!" and then proceeding to cause market instability with their own lack of emotional restraint. To hell with every representative and senator telling me I have to fear for my life and for the lives of my children unless I allow more broad sweeping powers to be given to a government that has proved again and again to be corrupt and dangerous. And to hell with every Wall Street executive that has their golden parachute to land safely in some tax haven somewhere outside this country.

There are other ways through this mess, and the fact that absolutely no one has any resolve to advocate a different route shows that absolutely no one has any idea what they are doing. I refuse, as an American, to support, applaud, panic, or jump out a window over the President's speech this morning, Paulson's rousing talk yesterday, or the Market data itself.

All yesterday was, was a panic sell. Nothing more. It meant absolutely nothing. It's all fear mongering. And it's designed to show you the power of what a group of bankers can do to America unless we submit to their ideology. Would the stock market have plunged if the FAILOUT passed?

Do the math.

As for Wall St.: START JUMPING OUT YOUR WINDOWS AND SEE IF THE TAXPAYER WILL CATCH YOU.

Bush Statement

Here's his statement from this morning in case anyone missed it.

reply to post by Fromabove

Junior is not that stupid: I hope. We would have rioting in South Central Compton and other low-income urban areas within 24 hours if he were to try and pull a stunt like that. The American people finally spoke up yesterday and Congress finally had no choice to listen or else. They said no to this deal in a clear and concise manner, They are starting to listen to Ron Paul and others who saw that llegislation for what it was. A cruel and offensive rip-off of the American dream. Power to the people.

reply to post by Redhead6971


Why do I get the feeling that you / we are supposed to feel that way? I still feel like it was a set up and was no victory for the people. As Bush said, there are many ways to pass a bill and it sounds like they will pass this whether we want it or not.

FoxNews.com posted this and it sent chills through me. Bush stated:

"This is not the end of the legislative process," he said. "Producing legislation is complicated and it can be contentious. It matters little what path a bill takes to become law. What matters is that we get a law."


His popularity rating is already in the toilet, what more problem would he have by passing this through the unpopular way? What's he care? He's gone anyway! He's just gonna pass the law for the Overlords and then leave.

Ugh.. please don't use stupid-math.. the date added together doesn't mean that the drop in the market was fabricated. Seriously, there are folks that sit around and try to add #'s together to predict the worst? Brother...

This happened exactly as I thought it would, no surprises whatsoever. Sometimes I think the agenda of half the folks on this board is to try to raise everyone blood pressure by 50 if possible...

That's tongue-in-cheek though, I do feel that if this founders further, his administration will indeed attempt to take more direct steps to make it happen. I don't think instantly though. I think Thursday, they'll hash this further. By the weekend, they'll come up with Bailout Plan, Mark II. Early next week, another vote. And if it again fails, I expect one more earnest attempt at making something happen. By the end of next week, that's when I think we can start worrying about more serious measures taking place.

Everyone feel better, now that the address is over and the President has not declared martial-law or used executive powers?

To the OP - seriously, you are no better than the media when you post headlines that have no basis in reality and call for wild speculation. Talk about fear mongering. All you're doing is stirring the pot.

Yes, this is a conspiracy website, but the site owners have also consistently said that the motto "deny ignorance" means something to them. For you to perpetuate "Executive powers" and for others to go on screaming about the other "shoe dropping" and "martial law" when you have no proof and/or no link to a reputable website even mentioning the idea IS the very heart of ignorance.

[edit on 30-9-2008 by sos37]

reply to post by rufusdrak


Oh Jesus Christ please keep the numerology crap out of this. Today's date is 9/30/2008... 9+3+2+8 = 22... Emmitt Smith's jersey number. Today Emmitt will find a shiny new penny on the sidewalk in front of the ESPN studio.

reply to post by DGTempe


DG, while I'm almost always amused by and enjoy reading your posts of doom, I really have to ask how you manage to be so tenaciously wrong so often? 99.99% of mankind would have thrown their hands up and surrendered long, long ago after literally every single "prediction" they had made had turned out to be false. You press on. I'm impressed.

reply to post by George W. Bush


Your speech this morning was better than the one you gave last week, at least you attempted to explain this bill somewhat and painted it as having a chance to not have a huge price tag dumped on the taxpayers. You still need to work on making it give far less sweeping powers to the treasury Sec and build in some better opportunities for the tax payers to not get shafted with the bill. It would also be great if you'd explain to people why it is that this same effect couldn't be better achieved by directly paying off some of the most serious bad mortgage debt, thus helping out main street & wall street with one single payout.