Bush: Congress Will Act Quickly on Bailout Plan
EmailABC News’ Jonathan Karl reports: President Bush expressed confidence in the quick passage of the $700 billion economic "rescue plan" put forth to address the financial crisis.
Appearing at a photo op with Pakistani president Ali Zardari in New York, Bush said world leaders in New York "are wondering whether or not the United States has the right plan to deal with this economic crisis, and I have assured them that the plan laid out by Secretary Paulson is a robust plan to deal with a serious problem."
Bush also assured world leaders that Congress will act and that "there is the desire to get something done quickly."
"I am confident that there will be a bipartisan bill, that Democrats and Republicans will come together on legislation which is necessary to address the financial situation, and a rescue plan to make sure there is stability in the markets."
As the bailout debate unfolds on Capitol Hill, Bush acknowledged the Democratic terms that have been put forth, including homeowner assistance and pay limits for the top executives of the firms the bailout will help.
There will be "natural give and take in Congress," Bush said, and there are "good ideas that need to be listened to."
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Call them up and tell them to bailout Main St. NOT Wall St.!!! If you let them get away will bailing out the banker buddies, auto industry, airline industry, you will have maked this a bankrupt and socialist country. Socalism for the weathy is NOT a “free market.” It is fascism!
Posted by: hmn | September 23, 2008, 9:48 am 9:48 am
My fervent hope is that Congress will act quickly on criminal charges against Bush, Cheney, Rove and their gang after January 20, 2009.
Posted by: hopesprings52 | September 23, 2008, 9:50 am 9:50 am
Pelosi and Reid will insist on payoff of ACORN and other socialist agitators in this bill. These are the groups who commit voter registration fraud and use illgal tactics to “mobilze voters.” Many of these so-called “voters” are not citizens, or even live people.
Posted by: Hop is Not a Plan | September 23, 2008, 10:05 am 10:05 am
Obama attacked Sen. John McCain (R-Ariz.) for initially opposing the federal government’s intervention to save insurance giant AIG.
“I think what has been clear during this entire past 10 days is John McCain has not had clarity and a grasp on the situation,” Obama.
But Matt Lauer (NBC) pointed out that Obama’s running mate, Sen. Joe Biden (D-Del.), had initially said the SAME THING.
“I think that in that situation, I think Joe should have waited, as well,” Obama said.
FAIL.
Posted by: Left Hand, Meet the Right Hand | September 23, 2008, 10:20 am 10:20 am
Here’s another brilliant Joe Biden move, from his recent Ohio swing, where he was asked by an anti-pollution campaigner about clean coal — a controversial approach in Democratic circles for which Obama has voiced SUPPORT, particularly during the Kentucky primary.
Biden’s apparent answer: He supports clean coal for CHINA, but not for the United States.
“NO coal plants here in America,” he said. “Build them, if they’re going to build them, OVER THERE. Make them clean.”
Hey Joe, be sure to repeat that message in all your campaign stops in Ohio, Pennsylvania, West Virginia, and Kentucky—especially to all those Union Coal Miners. Idiot.
This answer fits quite nicely into John McCain’s case that Obama has been saying “no” to ALL new sources of energy. As they said at the Dem convention, “The most important barrel of oil is the one we don’t use.”
Posted by: I'm Joe Biden, and I Approve This Gaffe | September 23, 2008, 10:28 am 10:28 am
I want to know why they did not see this coming to the point it has to be an over night rush decision. I want to know who was NOT doing their job or jobs. I want to know why Bush always needs to be woke up on what is going on in the US. I want to know why we, the American people allow these people to continue to run our government? Are we really this stupid and laid back, do we really honestly feel we have no say?
Posted by: beck | September 23, 2008, 10:32 am 10:32 am
WHERE ARE YOU READING THAT?
Posted by: GIGI | September 23, 2008, 10:46 am 10:46 am
President Bush, You waited and obfuscated the issue until it was too late and now you want Congress to rush, this tactic worked with the Patriot Act and you are pushing the same way again. Sir you are traitor to your oath.
Posted by: Danny | September 23, 2008, 10:49 am 10:49 am
My fervent hope is that Congress will act quickly on criminal charges against Bush, Cheney, Rove and their gang after January 20, 2009.
Posted by: hopesprings52 | Sep 23, 2008 9:50:23 AM
———————–
TELL ME ABOUT IT!
CAN YOU BELIEVE THE SAME PEOPLE WHO PUT THESE CRIMINALS IN OFFICE ARE ASKING US TO TRUST THEIR JUDGEMENT?
AND THEY HAVE THE NERVE TO INSULT!
ANYONE WHO VOTED BUSH/CHENEY NEEDS TO SHUT UP.
Posted by: GIGI | September 23, 2008, 10:49 am 10:49 am
A $700 BILLION Bailout??? Half a year’s worth of federal annual budget?
Let’s see… wasn’t it just 4 years ago that $87 Billion could run a WAR for a YEAR? And Congress balked at that figure (“I voted FOR the $87 Billion before I voted against it…”). What have we spent IN TOTAL on Iraq? I don’t think we’ve gotten close to $700 Billion yet, and now they want to spend that amount on bailing out a bunch of misbehaving children on Wall Street??
I thought investors understood that they’re putting their money at RISK, and that RISK was part and parcel of the opportunity for high returns! Why is it now the responsibility of the average taxpayer to bail out those who managed their money with less responsibility than a drunken sailor? (With apologies to our sober and responsible men and women at sea!)
Our Manufacturing Industry has been taxed and regulated into moving off-shore. Maxine Waters wants to take over the Oil Industry. Hillary wants to take over the Health Care Industry. And now the Financial Industry is in the process of being taken over. Socialism IS conquering us!
I want Paulson’s & Bernake’s heads on a platter.
Good bye, America… you’ve had a nice run.
Posted by: edeldoug | September 23, 2008, 10:49 am 10:49 am
PELOSI! BIDEN! BRYSTOL! RIGHT HAND, LEFT HAND!
WATCH SOME PEOPLE COME IN HERE AND START TALKING ABOUT EVERYTHING ELSE BUT THE ARTICLE AT HAND…
THEY’D SELL THEIR DIGNITY BEFORE ADMITING THEY MADE TEH BIGGEST MISTAKE OF THEIR LIVES CHOOSING THIS GOVERNEMNT.
Posted by: GIGI | September 23, 2008, 10:52 am 10:52 am
We should provide members of the Bush administration with parachutes of any color they choose. Cindy McCain can fly the plane. John McCain can pull the cord. Sarah Palin can prod them with a hockey stick. Then they should make good on their promise of a quick bail out.
Then, and only then, can the Republican ticket show reform minded leadership.
Posted by: ricky | September 23, 2008, 11:40 am 11:40 am
hmn-
Close. I often describe the economic structure of this country as corporate feudalism with a hint of democracy.
And once again, Bush is getting a god damned free pass on something else he was an integral part of f**king up. . .
Posted by: Henderson | September 23, 2008, 12:01 pm 12:01 pm
Bush, Republicans, and John McCain’s unsavory Business Transaction friends wanted the money quickly and with NO strings attached, No regulations, No restrictions, While giving NO Guarantees.
I want Regulations attached with Restrictions and Guarantees. Or you wont get my hard earn Federal Tax money.
Posted by: mere | September 23, 2008, 12:04 pm 12:04 pm
Bush says, Congress will act quickly.
What Bush really means is Congress better give his friends the money with No regulations attached, no strictions attached, and with no guarantees.
Bush sounds like the worst guy to buy a used car from.
Posted by: mere | September 23, 2008, 12:09 pm 12:09 pm
This is what I have to say:
http://www.nevadapundit.wordpress.com/2008/09/23/the-bailout-another-poorly-thought-out-government-reaction-plan/
Posted by: Nevada Pundit | September 23, 2008, 1:17 pm 1:17 pm
Anyone wonder how all of these institutions failed in ONE WEEK? Anyone wondering who was supposed to oversee these institutions? (Barney Frank and Chris Dood)..anyone wondering why the big shots are getting the “golden parachute” and who is okaying it? Anyone willing should contact their representative in Washington and ask these same questions..especially WHY the American public was not told months ago so that they could protect themselves from this loss!!!!
Posted by: mfmros | September 23, 2008, 1:22 pm 1:22 pm
F*** BUSH.
Posted by: MFBUSH | September 23, 2008, 2:08 pm 2:08 pm
I personally think that all the banks that needed to be bailed out have already been bailed out. This blanket security of $700 Billion is ridiculous. I hope congress does not pass this. Bail outs should be done at individual case by case basis. Coming up with a plan that will allocate a pool of money so all the risk takers who brought us here in the first place is ridiculous.
I even heard that the companies will not participate in the program if the executive payment cap is set at $400,000 which is peanuts for them. What does it tell us. These executives want to eash their hands with tax payer’s money before the administration changes.
This administration played scare tacticts in 2003 related to foriegn policy to get us into war and let companies like Haliburton make huge amounts of money. Now their scare tactic is related to economic policy. They will make us believe that the financial market will meltdown if this blanket program is not put in place. This is totally ridiculous. Bail outs should only be done on case by case basis.
Posted by: Faiz | September 23, 2008, 3:21 pm 3:21 pm
And finally, if someone tells you McCain is a third term Bush and that BO is “Mr. liberal” please pass on this info:
“Obama often says that McCain voted 90% of the time with Bush. What he doesn’t say is that Obama himself voted 88% of the time with Bush and even voted for the Cheney energy plan. Hillary didn’t and neither did McCain.
What they don’t tell you is that McCain voted 97% of the time with the Democrats and that he has the worst conservative voting record of any Republican. He voted liberal 20% of the time.
(A little tip when you hear Obama lying about McCain’s voting record: most votes in the Senate are unanimous consent.)” http://www.redhotandbluepolitics.com
Posted by: Democrat No More | September 23, 2008, 4:14 pm 4:14 pm
Let’s Play Wall Street Bailout
http://www.dailykos.com/story/2008/9/23/14159/5504/484/607684
Posted by: Jim | September 23, 2008, 11:46 pm 11:46 pm
AAAH MEMORY LANE… WHO REMEMBERS:
BUSH ABANDONING CAMPAIGN PLEDGE TO CUT CLIMATE-WARMING POLLUTION – RIGHT AFTER BEING ELECTED
BUSH SIGNING 1.3 TRILLION TAX CUT
THAT ANNOYING PRESIDENTIAL DAILY BRIEF WHEN SOMEONE TOLD HIM “BIN LADEN DETERMINED TO STRIKE THE US”
WHEN THE US INVADED AFGHANISTAN, GOOD TIMES EH BUSH?
OSAMA SLIPING AWAY AT TORA BORA
GUANTANAMO BAY OPENS FOR BUSINESS
BUSH SAYING “I TRULY AM NOT THAT CONCERNED ABOUT HIM” TALKING ABOUT BIN LADEN
BUSH SECRETLY DIVERTING $700 MILLION APPROPRIATED FOR AFGHANISTAN TO PREPARE FOR INVASION OF IRAQ
THE PENTAGON UNVEILING PROJECT TO “DATA MINE” EVERY AMERICAN’S PHONE CALLS, EMAILS AND MEDICAL RECORDS
CHENEY SAYING “THERE IS NO DOUBT THAT SADDAM HUSSEIN NOW HAS WEAPONS OF MASS DESTRUCTIONS” -WHO CAN FORGET THAT! LOL
WHEN THE REPUBLICANS REGAINED SENATE MAJORITY…
WAS THAT BEFORE OR AFTER RUMSFELD AUTHORIZED TORTURE??? ANYONE REMEMBERS?
OR WHEN in the state of the Union THEY SAID THAT SADDAM “SOUGHT SIGNIFICANT QUANTITIES OF URANIUM FROM AFRICA”
****DUCK TAPE*****
THE FALL AND DEMISE OF COLIN POWELL’S HONOR :(
10 MILLION PROTESTING THE WAR – AT ONCE
IRAQ LOOTIN’! HEY… “STUFF HAPPENS!”
*M*I*S*S*I*O*N A*C*C*O*M*P*L*I*S*H*E*D ABOARD THE U.S.S ABRAHAM LINCOLN
WHEN INSURGENCY BEGAN IN IRAQ “BRING THEM ON!” YEEEEEEEHAWWWW!!!!
ROBERT NOVAK’S BIG MOUTH ON VALERIE PLAME!!!
CONGRESS BARS GOVERNMENT FROM NEGOTIATING CHEAPER PRESCRIPTIONS FOR THE ELDERLY (surely they had they reasons… )
SADDAM CAPTURED – now that’s a sight!
ABU GHRAIB
THE DAY US DEATHS IN IRAQ MADE IT TO 1,000 :(
WHEN BUSH SIGNED $155 BILLION IN CORPORATE TAX CUTS!
AAAAAAAAAAAND PEOPLE LIKE YOU WENT AND RE-ELECTED HIM! REMEMBER THAT? REMEMBER HOW YOU FELT THAT DAY?????
NOT LONG AFTER CONGRESS APPROVES $13,997 PORK-BARREL PROJECTS – Hey was that a record???
Good thing BUSH’s popularity was at a STEADY low.. until… one day at 1 AM…
BUSH SIGNS TERRI SCHIAVO’S LIFE AWAY
AND IT DROPPED
DOES ANYONE REMEMBER THE WHITE HOUSE GETTING CAUGHT CENSORING REPORTS BY GOVERNMENT SCIENTIESTS ON GLOBAL WARKING, or did I dream that?
aaaaaaaaaaaaaaaaaaaand we entered the Twilight Zone, where we switch places with Irak, Palestine, Afghanistan, and other places where citizens are left to die while their govenrment watch = KATRINA — HEEEEY JOHNY MAVERICK MCCAIN, REMEMBER HOW BUSH YOUR OLD BUDDY OL’ PAL FLEW TO VISIT YOU INSTEAD OF CONCERNING HIMSELF WITH KATRINA?! AND HE GOT YOU A CAKE!!!!!!!!!!!!!!! WASN’T THAT AWESOME?
I MEAN… OF COURSE YOU DID DO THE RIGHT THING HOLDING OFF ALL KINDS OF STUFF AND MAKING SURE CINDY DIDN’T WEAR SOMETHING OVERLY OPULENT AND EXPENSIVE DURING THE CONVENTION BUCAUSE… WELL BECAUSE TEXAS WAS BEING HIT BY A HURRICANE.
HIPPO? NO! ELEPHANT!
“BROWNIE, YOUR’E DOING A HECK OF A JOB”
POO POO TOM DELAY GOT INDICTED AND BUSH WAS SOOOO SAD BOOOH BOOOOH!!!
BUT HEY! SOON, BUSH WAS ABLE TO CELEBRATE IRAQ’S 2000 DEATH COUNT :(
BUT BOOOH BOOH! BAD BAD DEMOCRATS AT IT AGAIN! THEIR WICKED WAYS GET JACK ABRAMOFF CONVICTED! BOOO!
WHAS THAT WORSE THAN WHEN MARK FOLEY QUIT?
OR WAS IT WHEN RUMSFELD RESIGND?
GOOD THING THE IRAQUI STUDY GROUP AT THIS POINT REALIZED THAT “HOUSTON, WE MIGHT HAVE A PROBLEM”
PARTY POO POO POOPERS REGAIN CONTROL OF HOUSE AND SENATE – DARN AMERICAN PEOPLE AND THEIR STUPID ELECTORAL SYSTEM!
AND BUSH CELEBRATED REACHING 3000 DEATHS IN IRAQ INSTEAD OF LETTING LOONEY LIBERALS RUIN HIS PARTY!
TOO BAD LATER AFTER THAT SENATOR LARRY CRAIG WAS ARRESTED
BUT BUSH, NOT ONE TO LET OTHER PEOPLE PUT HIM DOWN!:
COMMUTES SCOOTER LIBBY’S SENTENCE
AND THEN HELL FROZE OVER = KARL ROVE RESIGNED!
“WAIT, WAIT, WHAT DID YOU JUST SAY? YOU’RE PREDICTING A $4 A GALLON GASOLINE? THAT’S INTERESTING, I HADN’T HEARD THAT” ————– funny!
HAVE NO FEAR! 4,OOO DEATHS IS HERE!
:(
“FAREWELL FROM TEH WORLD’S BIGGEST POLLUTER!”
AND I SPECIALLY REMEMBER WITH UH, A STOKE TO MY HEART WHEN WE WERE SO INNOCENT TO THINK THAT BUSH’S WHITE HOUSE WOULD LEAVE US WITH A RECORD DEFICIT OF $482 BILLION… TO THINK, IT’S BEEN A WHOLE WEEK SINCE THEN!
VOTE FOR MCCAIN? – “THANKS BUT NO THANKS”
Posted by: GIGI - SORRY FOR THE CAPS | September 24, 2008, 1:45 pm 1:45 pm
NO BAILOUT!!!
NO WAY!!!
DO NOT ROB THE AMERICAN PEOPLE TO HELP THE WALL STREET THUGS WHO CREATED THIS MESS WITH THEIR GREED WITH THE HELP ON BANKS & BROKERS!!!
Posted by: JBatt | September 25, 2008, 8:09 pm 8:09 pm
I am a veteran of the armed forces after 9 yrs and currently going to college. If this plan passes, I am going to expatriate as soon as I get my degree! This is ridiculous!
Posted by: Gregory | September 28, 2008, 12:57 pm 12:57 pm
The bailout plan is a bad idea on so many levels. Government is interfering in the natural consolidation of the financial sector which has had a huge runup recently – in 2006 fully 1/3 of *all* US corporate profits were from this sector.
Dave
http://www.islandersoftware.com/weblog/2008/09/27/just-say-no-to-the-bailout-plan/
Posted by: Dave R | September 28, 2008, 1:24 pm 1:24 pm
FOOLS !!! Why not just sell America on EBAY ! Bush AND Congress Rob Middleclass Americans as last greatest effort to end America. Rome fell, Russia fell, and now thanks to CONGRESS America is poised to fall. 1 Trillion Dollars?? They WILL be back in Nov. for another trillion !! For me, I am stopping payment on my mortgage so I too can get bailed OUT. THE END IS NEAR
Posted by: Michael Roescher | September 29, 2008, 9:33 am 9:33 am
Beck….Bush has been warning abought this for years and the dems in congress would not let anything he tried to do to stop it through. They would either stop it before the vote or vote no.
Posted by: John | September 29, 2008, 4:45 pm 4:45 pm
The bailout is to support republican lawmakers who have substantial investments in the mess and want their money now! Call your lawmakers and ask why the minority republican leaders – 7 in total – see Kron TV want the money. It is for them! Obama, Nancy Pelosi, Barbara Boxer — Please blow the whistle on this now!
Posted by: zack | September 30, 2008, 6:35 pm 6:35 pm
I’m hopeful proposal, now passed, will do some good. They have to do something. But in the meantime, I found a hilarious song about it called “Bailout Man” to lighten a grim subject: http://evamoon.net/blog/2008/10/02/bailout-man/
Posted by: Jody | October 3, 2008, 2:44 pm 2:44 pm