Bush: Troubled financial system is basically sound

Bush: Troubled financial system is basically sound

news.yahoo.com

WASHINGTON - President Bush said Tuesday the nation's troubled financial system is "basically sound" and urged lawmakers to quickly enact legislation to prop up mortgage giants Fannie Mae and Freddie Mac. He also called on the Democratic-run Congress to follow his example and lift a ban on offshore drilling to help increase domestic oil production.

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SOUND? REALLY!!?? When the government has to move and and bail out companies that account for over half of all US mortgages ~$5 Trillion, and that is "sound"?!

Does he have any clue whatsoever as to what is going on?

And then the nerve to link it to drilling for more oil in the US which wouldn't see a drop for years!

news.yahoo.com
(visit the link for the full news article)

Yeah, this gets filed in the "dumb comment" folder, and I actually like the guy (more or less.) The only thing "sound" about the economy right now is a sound similar to the one Terri Schiavo was making in those videos her parents put out shortly before her death. The economy is alive, but it isn't doing anything productive right now.

he probably used the wrong words there. I think that the meaning gets lost in his terrible choice of speech.

just trying to quell the fears of severe economic hardship

reply to post by burdman30ott6


Terri Schiavo jokes? Too soon? lol - very Denis Miller of you.

I disagree that the economy is alive. Once companies start pulling everything out of Fannie Mae and Freddie, things will start to get VERY ugly.