By Julia Hoppock

Sep 18, 2008 10:58am

Bush Says He’s Concerned About Economy

ABC News’ Julia Hoppock reports: President Bush today said he was concerned about the state of the financial markets and announced that he cancelled his scheduled trips to Alabama and Florida in order to focus on the economy.  Bush was slated to attend two GOP fundraisers, but has sent Vice President Cheney in his place.

"The American people are concerned about the situation in our financial markets and our economy, and I share their concerns," he said in his first public statement on the economic crisis since the government bailed out insurer American International Group.

In his two-minute speech, Bush did not specifically outline what further actions would be taken to ease one of the worst financial crises since the Great Depression, but said that he had met with Treasury Secretary Henry Paulson and would meet with him again this afternoon.  The president tried to reassure the American public that the federal government would be actively engaged in working to stabilize and strengthen the struggling market.

"As our recent actions demonstrate, my administration is focused on meeting these challenges.  The American people can be sure that we will continue to act to strengthen these financial markets and improve investor confidence."

Bush took some heat this week for not addressing the economic crisis more directly; his last public remarks were made Monday.  In a press conference yesterday, White House spokesman Dana Perino said that Bush was apprehensive about holding a news conference, in general, because he didn’t want to distract from the presidential campaign.

"I grant you, that it’s been a while," Perino told reporters.  "And I understand that people want to hear from the president during this time."

User Comments

Bush is such a dim bulb. You can’t have confidence in him being able to handle an economic crisis or any other crisis.
He’s been in so far over his head it’s ridiculous. We need sharp people to handle the great challenges of our times.
Obama/Biden ’08

Posted by: hopesprings52 | September 18, 2008, 11:13 am 11:13 am

This guy should just shut up and get the hell out of the White come Jan 09. He is a complete failure. I feel ashamed that we the American people elected such as neophyte into the most powerful office in the world.
I hope we don’t make the same mistake for the 3rd time by electing John McCain

Posted by: Ro | September 18, 2008, 11:13 am 11:13 am

Guys….THIS IS THE PRESIDENT OF THE UNITED STATES….I cannot believe any of you would even CONSIDER voting a Rep back in office>>>>

Posted by: formerhillary | September 18, 2008, 11:15 am 11:15 am

Hey Dubya… “concerned” is the best you can do? People are “concerned” about whether or not they’ll get to the dentist on time. They’re more like “frightened” about whether or not they’ll have a job next week. Maybec crawl back to Crawford and chop some wood instead of pretending to lead the country. It’s obvious you’re phoning it in these days.

Posted by: HeidiL | September 18, 2008, 11:18 am 11:18 am

Last night Palins challenge was “Let’s play stump the candidate”
I think she should follow through with that challenge

Posted by: watching | September 18, 2008, 11:25 am 11:25 am

I am certain Bush will not talk about the real reason the economy tanked – his administrations deregulation of the financial system. Bush allowed or was oblivious to the pending disaster. Either way how can we justify another McBush/ Palin (don’t even get me started on HER) GOP fiasco!

Posted by: Bender | September 18, 2008, 11:25 am 11:25 am

I thought he might speak today. He got slammed pretty hard by Chris Matthews last night for not doing a presidential address on the economy.

Posted by: Paul | September 18, 2008, 11:26 am 11:26 am

Big whup! Wish he had been concerned back when his pal Lindsay Graham was calling us all whinners.

Posted by: jenny | September 18, 2008, 11:27 am 11:27 am

Great work Bush, now we get to elect a “welfare/warfare” queen in McCain/Obama to finish off the mess you and your pathetic democrat enablers in congress started. Hope you and Cheney have fun in Dubai while the US BURNS!!! (Say hi to Prince Saud and all of the hijackers from Saudi Arabia for all of us!) And be sure to take those traitors who enabled you (Pelosi and Reid) WITH YOU when you go!!!

Posted by: hmn | September 18, 2008, 11:31 am 11:31 am

John McCain endorsed GWB in 2004, which appeared a calculated move at the time to make the GOP base happy and bolster his 2008 chances of winning the GOP nomination. He won the nomination and here we are.
Less regulation equals more bailouts in the financial sector.

Posted by: SET | September 18, 2008, 11:35 am 11:35 am

Oh dear! I wonder if Obama can do something, he may as well just go in, tell Bush to leave and hand out some money- he can borrow a few dollars from the guy advising him from Fannie mae- you know the guy who ran it into the ground paying himself 90 million in the process. Doesn’t matter that he hasn’t won yet. After all didn’t he try to negotiate with the Iraqi’s from setting troop time limits with Bush -waiting until he rode into office?

Posted by: david | September 18, 2008, 11:35 am 11:35 am

LOL The headline of the article is the understatement of the century, and I could totally hear those exact words coming out of George’s mouth.

Posted by: Paul | September 18, 2008, 11:37 am 11:37 am

Do you have a comment about this issue? It’s easier to talk about rumor and innuendo than real issues.
Bush/McCain policies have failed our economy.

Posted by: David Distracts | September 18, 2008, 11:38 am 11:38 am

Bush hasn’t been honest with the american people for almost 8 tears- he’s not about to start now- I wish he would just dissaper – SHUT UP!.
I do not want a 90% McBush taking office. McCain has shown on several occasions he is clueless and will offer only sound bites and no specifics on helping the economy.

Posted by: Bender | September 18, 2008, 11:42 am 11:42 am

Sept. 18 (Bloomberg) — Morgan Stanley, the second-biggest independent U.S. securities firm, may sell a larger stake to China Investment Corp. and is in talks about a possible merger with Wachovia Corp., a person familiar with the matter said.
If this is true, Bush and friends keep walking in poop, I can’t wait for McNuts to continue the downfall…

Posted by: matt | September 18, 2008, 11:47 am 11:47 am

Why is anyone surprised that Bush is going to leave the Presidency with the country in shambles. He did that with everything else he had done, his investors lost money in his oil company and his baseball team. Sound familiar?

Posted by: The Unshrub | September 18, 2008, 11:48 am 11:48 am

He is introducing the new feature film coming out…
“Deregulation and the Bail Out II -2008″
It’s the trillion dollar sequel to the first one (which only cost us half a trillion dollars)
“Deregulation and the Bail Out – The Rise of the S and L crisis”
The sequel finds our trusty partners…John Mccain and Charles Keating have separated their contract giving, deregulation lobbying, jet-sharing ways…have parted company (as Keating went the way of Prison at the end of the first one and John went on to be that “maverick” leaving his partner in the dust)
we now find John Mccain has a new partner…Phil Gramm same battles same lobbying
but now they are writing the nations economic policies.
ugh
throw these bums out.

Posted by: dl | September 18, 2008, 11:50 am 11:50 am

WHERE ARE THE FEDS?
Are you waiting for the elections so you can keep your jobs?
What are you doing about how we were sold out in Iraq with oil contracts going to China?
What are you doing about Rangel and his tax evasions and sweetheart deals?
What are you doing about a Presidential nominee doing presumed negotiations with a foreign country?
What are you doing about an organization that receives U.S. funds yet has $$ to make political donations? And has investments in foreign countries?
What are you doing to help protect us against Voter Fraud?
WHERE ARE YOU?

Posted by: HP Boston | September 18, 2008, 11:52 am 11:52 am

Some more of that Compassionate Conservative stuff. Sounds like McCains Populist Conservative crap.
Just like the S&L debacle, we now have the This, both caused by deregulation championed by the Republicans.
Free market system at work.

Posted by: Thinking | September 18, 2008, 12:01 pm 12:01 pm

Liberals, Ugh! Same ole, “ME, ME, ME”. All the while US Soldiers are saving your A….
That is the big difference between Democrats and Republicans. Dems think only of themselves and Republicans think smarter, more intelligent and of others.
I don’t feel sorry for you when McCain/Palin are sworn in to the White House..

Posted by: BMR Robert | September 18, 2008, 12:03 pm 12:03 pm

a day late and a dollar short – as usual! Heck of a job, Bushie!

Posted by: hang | September 18, 2008, 12:03 pm 12:03 pm

puhleeez! the only thing bush is/has-been concerned about is getting scripts without any “s” “st” or “ts.”
as with gustav, the economic crisis is a convenient excuse…a republican fundraiser’s sigh of relief.

Posted by: lostrax | September 18, 2008, 12:07 pm 12:07 pm

I think we really need McCain to take care of this mess on Wall Street.
Obama has no major accomplishment. He flip flops on everything. He has no core and he doesn’t have the wisdom. He is a left-wing George W. Bush.
Barack “GWB” Obama, is unit to be anything.
Hopefully, McCain will win the election.

Posted by: Roger Miller | September 18, 2008, 12:09 pm 12:09 pm

Bush is trying to save his own aqq he cares nothing abiut this country and baby it shows .He is a false front .this would not have happpened if this government had been on top of things….Including a certain man who has been in Congress for 26 years.He can not do any bettter then Bush His counter part is a Bush clone scaryyyyyy

Posted by: indp voter | September 18, 2008, 12:10 pm 12:10 pm

Hey watching, I though she had already palyed the games with Charles Gibson.

Posted by: jenny | September 18, 2008, 12:12 pm 12:12 pm

Good Judgment or blindness? Politics with a “change”—only a fool would believe! Obama takes MONEY from these companies and has NO IDEA!!!!!
Obama Ranks Second Among Donations from Lehman
Obama Bundlers are Top Executives at Lehman Brothers
Obama Ranks Second Among Donations f29rom Fannie Mae And Freddie Mac Among All Members Of Congress Since 1989

Posted by: Mike | September 18, 2008, 12:13 pm 12:13 pm

Hey, don’t pick on Bush. Yes, he’s a dim bulb BUT he’s the guy everyone wanted to have a BEER with – wasn’t HE? Now we have a potential Vice President who people like because of her glasses and shoes.
I think the voters deserve who they get. Wake up, folks. Bush has always been a dim bulb – even before he was elected!
This is serious stuff (let alone 4,000 + lives lost and thousands more injured for life) because voters base their leadership choices on who they would like to have a BEER with.
Elect your President because of ability. Pick your Beer Drinking friends because of their good ol’boy behavior or their looks and who their Mom and Dad might be.
WAKE UP! folks – we can’t really afford to make a stupid decision for the 3rd time in a row.

Posted by: LMJ | September 18, 2008, 12:13 pm 12:13 pm

We have been asked more than once whether we are financially off now than 8 years ago. Let’s flip the question and ask ourselves whether financially we are still able to pay the bills and groceries and the basics of life?
Except for the people directly affected by the housing crisis such as investors in financial institutions and subprime or hocked-to-the-tilt variable-rate borrowers, I can’t imagine how things have been more difficult for most people. Even with gas at $4 a pop, most people who drives to work locally still drive to work.
Phil Gram was not sensible when he made the ‘whiny’ statement, but he might have thought of most people who complain but don’t really get affected much by the current turmoil.

Posted by: Obama-Yah-Wright | September 18, 2008, 12:15 pm 12:15 pm

BMR do you eally think that there are no soldiers who are democrats, and that all republicans are un-selfish? Naming a party does not define who you are and what you stand for. I want less government and more freedom, but I also think a woman has the right to choose and that any two adults, or more for trhat matter, should be allowed to marry. I don’t think matters of faith has any place in lawmaking. I think our schools should be the best in the world and I am willing to pay the taxes to make that happen. There are national priorities that will need to be paid for by taxes, states cannot do everything alone. taxes are the price we pay for a civilized and free society. Giving tax breaks to big business increases their bottom line, business pricipals dictate that you increase staff as a last resort. Trickle down has not worked, ever. Free market does not mean unregulated market. A responsible free market requires rules and framework. In this country we are all supposed to have equal promise. Whether you are born rich or poor. That is not the way it is, and that situation has gotten much worse the last 8 years.

Posted by: Jason | September 18, 2008, 12:16 pm 12:16 pm

Finally he addresses this mess. I think Congress should be addressing this too, as they are just as culpable.
McCain saw this coming and in 2005 made a proposal that no one listened to.
COUNTRY FIRST McCAIN/PALIN

Posted by: Emma | September 18, 2008, 12:18 pm 12:18 pm

Roger Miller? Are you really comparing Barrack Obama to George W. Bush? Now that’s a stretch. With logic like that I can see why you might vote for McCain and why you probably voted for Bush twice.
Bush/McCain policies have failed.

Posted by: Say What? | September 18, 2008, 12:18 pm 12:18 pm

The loudest advocates for McCain are the ones who voted for George W. Bush in 2000 and 2004. Now, they’ve disowned him and act like McCain is going to reform the very deregulation he supported throughout his 25+ years in the Washington.
You don’t call the guy (the republican policies)who wrecks your house and ask him to rebuild it?

Posted by: SET | September 18, 2008, 12:23 pm 12:23 pm

O-Y-R
The issue is that if you would making about $60K 8 years ago, you are still making about that now, or if you have had some moderate success you may be making as much as $80K today, the problem is that $80k today does not buy what $60K did 8 years ago. I make more than I did 8 years ago, but the basics have increased at a faster pace, so no, I am not better off. That and i never thought I’d see the day of having a Republican against a tax cut.

Posted by: Jason | September 18, 2008, 12:24 pm 12:24 pm

Anyone that has voted for bush twice really needs to do this country a favor and sit this one out, because you have proven that you absolutely have no common sense.

Posted by: pt | September 18, 2008, 12:26 pm 12:26 pm

Free markets work. Let them. No exceptions. None. Bailout compromise the divine beauty of free markets.

Posted by: joe | September 18, 2008, 12:30 pm 12:30 pm

joe
it isn’t the free market that is tanking. There are not people that are producing goods and selling them. There are people that are dealing in fund exchanges and money lending.
I find that most people that like to throw around the term ‘Free Market’ like the way it sounds but have no concept of how macroeconomics works and why bailing out these companies is a no brainer to make sure that all of companies associated with them stay operational.

Posted by: Jason | September 18, 2008, 12:35 pm 12:35 pm

Let’s all do our part, to see to it that the Bushes and Cheney get their rightful place in history, and their rightful place in the afterlife. The way I see it, History can be a dog, and I genuinely hope all the Bushes are hydrants. Over 90% of America’s debt has come about with a Bush in the Whitehouse.

Posted by: james | September 18, 2008, 12:42 pm 12:42 pm

Bush could have come on during prime time and made an attempt to quell the current anxiety. The crisis deserves that sort of attention from our president. Every day that home prices go down is another day that the financial future of the middle class erodes. Bush is gunshy because he and Phil Gramm and John McCain have helped deregulate the stock market and banking industries. McCain is now trying to paint himself as favoring govt. regulation… but check his record and his statements from earlier this year. McCain’s campaign rhetoric is fraudulent. McCain is one of the architects, along with Phil Gramm. He helped enable this mess.

Posted by: Steve from Danville | September 18, 2008, 12:42 pm 12:42 pm

John McCain will probably try to distract voters today or tomorrow with some other “celebrity-lipstick-media hating-patriotic” message. Why? Because his stance on regulating banks and stock brokers has been to DEREGULATE. It’s been one of the cornerstones of his campaign for years. Please don’t be fooled by the John McCain who now talks out of both sides of his mouth. Sorry to say: the new McCain is a fraud.

Posted by: Steve from Danville | September 18, 2008, 12:47 pm 12:47 pm

Let us recap…
Polosi: “Hey don’t blame us.”
Reid: “We don’t know what to do.”
Biden: “Raising taxes is patriotic.”
Obama: Has no comment!!!
McCain: “I would fire the chairmen.”
McCain: “Americans want us to stop yelling at each other.” 09/18/2008
Obama: Tells supporters “Argue and get in their faces.” 09/18/2008

Posted by: checks and balances | September 18, 2008, 12:50 pm 12:50 pm

BMR Robert–That is the problem, the Republicans are to arrogant and dumb to realize and admit that they cannot run a country. Again and again they use social issues to gain political power, if it were not for Abortion, Gay marriage and war. . . .They would have nothing to lean on .Democrats: Fixing Conservative F^&% ups, term after term. Republicans: The thorn in americas side! Idont need a saviour,I have one…. I need a president. OBAMA 08

Posted by: ohio for obama | September 18, 2008, 12:51 pm 12:51 pm

One of the primary functions of the President during tough times like these is to exude confidence and leadership. Give the world some reason to believe that we have the intellectual capacity to deal with crisis. Bush and McCain don’t have that. Both look like deer-in-headlights … like cartoon characters. It doesn’t help that McCain himself says he needs to “learn up” about the economy. God save America from the failed economic policies of the Republican Party.

Posted by: Steve from Danville | September 18, 2008, 12:53 pm 12:53 pm

If you listen closely you can hear the palin bounce coming back down along with the market.

Posted by: pt | September 18, 2008, 12:54 pm 12:54 pm

The Democratic-controlled Congress, acknowledging that it isn’t equipped to lead the way to a solution for the financial crisis — Bloomberg
Harry ‘dingy’ Reid and Nancy ‘stretch’ Pelosi have fled! But don’t worry. Lord Obama the most merciful messiah will fix the problem with the power of hope alone.

Posted by: Norman | September 18, 2008, 12:54 pm 12:54 pm

The Bush admin. has Allowed these corporate barons to privitize their profits and socialize their bankrupties. We are in deep trouble people.

Posted by: darrin | September 18, 2008, 12:56 pm 12:56 pm

If you listen closely you can hear the palin bounce coming down along with the market.

Posted by: pt | September 18, 2008, 12:57 pm 12:57 pm

The Republican mantra is to privatize the profits but use taxpayers for bailout. The Republicans actually want to give Wall Street crooks the power to control our Social Security system. Just think.. your entire retirement savings could be in a Lehman Brothers hedge fund right now … if Republicans had their way. If the Republicans have their way your retirement home could be a cardboard box under a bridge.

Posted by: Steve from Danville | September 18, 2008, 12:57 pm 12:57 pm

The Republicans have 48 votes in the Senate. That’s why nothing good can come out of Washington while a Republican is in power. The Democrats need 60 senate votes for veto power. It is imperative to reject the Republican Party in every possible election this November.

Posted by: Steve from Danville | September 18, 2008, 1:02 pm 1:02 pm

Jason,
Staying operational shouldn’t be primary when there’s fundamental decay.
Freedom isn’t free and neither are free markets. Implicit is potential for ‘pain’. If “greed is good” then so is ‘pain’.

Posted by: joe | September 18, 2008, 1:08 pm 1:08 pm

Oh boy George wakes up from nap and says he’s worried about the economy, what a dip. Well thats what you idiots from Ohio and Florida deserve. You sh*t heads elected the turd.

Posted by: Lukeskytalker | September 18, 2008, 1:09 pm 1:09 pm

I have no respect for Bush or the Republican party.
What a walking disaster. I never voted for Bush or his father. I saw this coming. I am voting for someone with good judgement and for someone who’s head isn’t so big that he will put the best of the best at the tables to try to straighten the US out. I am voting Obama/Biden.

Posted by: beck | September 18, 2008, 1:09 pm 1:09 pm

John McCain today in Cedar Rapids, IA, said Barack Obama has done nothing to help the nation avert fiscal crisis:
“Senator Obama talks a tough game on the financial markets but the facts tell a different story. He took more money from Fannie and Freddie than any Senator but the Democratic chairman of the committee that regulates them. He put Fannie Mae’s CEO who helped create this disaster in charge of finding his Vice President. Fannie’s former General Counsel is a senior advisor to his campaign. Whose side do you think he is on? When I pushed legislation to reform Fannie Mae and Freddie Mac, Senator Obama was silent. He didn’t lift a hand to avert this crisis.”
While the leaders of Fannie and Freddie were lining the pockets of Obama’s campaign, they were sowing the seeds of the financial crisis we see today and enriching themselves with millions of dollars in payments. That’s not change, that’s what’s broken in Washington.
Sarah Palin also took a good poke at Joe Biden’s higher taxes = patriotism remarks:
“To the rest of America that’s not patriotism. RAISING taxes is about killing jobs and hurting small businesses and making things worse.”

Posted by: I want you to argue with them and get in their face | September 18, 2008, 1:09 pm 1:09 pm

That video of Bush’s speech was typical. He has gotten us into this mess and now he’s leaving office for another president to clean it up.
PLEASE VOTE DEMOCRAT!!!!!

Posted by: Melissa | September 18, 2008, 1:10 pm 1:10 pm

darrin…this is truly a non-partisan issue..ALL meaning, dems and repubs, clearly dropped the ball on this situation; however it seems that the repubs, thus far, are the only party who is giving a clear indication on what they would do and will do..I am still waiting for Obama to give his views on WHAT HE WILL DO AND WHAT HIS COMMENTS ARE?? He needs to commit to a comment which he does not generally do…

Posted by: checks and balances | September 18, 2008, 1:10 pm 1:10 pm

This is the fault of Republican voters in America! They put Bush into office! Every Republican voter who supported Bush should have to pay additional taxes and fines to help restore our economy! I’m serious! Those voters put our country in jeopardy! They exercised extremely poor and reckless judgment and caused undue hardship on the country.

Posted by: Danny | September 18, 2008, 1:10 pm 1:10 pm

Plugs Biden said that paying more in taxes is the patriotic thing to do (Politico), so therefore, using Joe’s reasoning; those that can’t pay taxes are unpatriotic parasites.

Posted by: Norman | September 18, 2008, 1:14 pm 1:14 pm

There seems to be a lot of severe criticism against Bush. Is McCain really just Bush II? Is Obama the man who will change all this horrible stuff that you feel? If all that is true, then why won’t Obama join McCain in town hall meetings and make himself clear contrast for your vote?
McCain has asked Obama to do just that! He challenges Obama all the time. Why doesn’t the media report that? Why wouldn’t Obama jump at the chance to stand next to McCain to express his differences?
Obama is NOT WILLING to meet this basic political challenge. That, my friend, makes Obama the weaker candidate. That, fellow voter, is what is killing Obama’s chance to be your president. That is why he is losing support. He’s basically a coward. He can’t man up to McCain. He does nothe have the guts that real leadership requires.
One more thing I worry about. What did Obama do to solve the extremely high murder rate problem in Chicago, especially among black Americans?
Would he support bringing the troops home from Iraq and move some of them to Chicago to stop the murder? Aren’t more people getting killed there than in all of Iraq? Oh you don’t think so! Do some research and find out! With all Obama’s experience, he couldn’t solve the big problems right in has back yard. Obama IS more of the same?
OBAMA IS AN EMPTY SUIT! You can hate Bush. You can Hate McCain. But Obama is probably even worse.

Posted by: Thomas | September 18, 2008, 1:15 pm 1:15 pm

Fn brilliant! Now that he is almost out of office he recognizes the market is crashing and we are heading into a world wide recession or depression!
Lucky that we have Johnny come lately to come to our rescue, you know him, the one that doesn’t know much about the economy! Maybe his running mate can ask her witch hunter friend whatthey should do!

Posted by: Snoop | September 18, 2008, 1:16 pm 1:16 pm

Danny….WHY???? What policies did the Repubs support or create that caused the present situation…Remember the federal monetary policy is not in the hands of the President, nor the House of Senate, but in the hands of the Federal Reserve..AND, what makes the Dems immune to the present situation; or in other words, why don’t they share the blame as well?

Posted by: checks and balances | September 18, 2008, 1:20 pm 1:20 pm

Thomas: McCain challenges himself all time. He is an empty suite with nothing to offer to anyone and is VP choice is right in there also. They cannot even answer a simple question… they both go off on Obama and you get nothing from them… why… because they have nothing you want to hear, which is McCain and Sara have the same Bush policies.. They are Republicans.. They are running a Republican race. Wake up. We as a nation can’t take another 4 years of the same.

Posted by: beck | September 18, 2008, 1:21 pm 1:21 pm

Ya they can blame it all on Bush. When you really research it though, it goes all the way back to 1977 to 1981, Gee I wonder who was President and who ran Congress?

Posted by: Obama's Drug Dealer | September 18, 2008, 1:21 pm 1:21 pm

we must vote out every republican at state and national level. this nation has been destroyed by bush and his evil empire republicans and it must stop no mccain no palin. OBAMA 08

Posted by: tom | September 18, 2008, 1:23 pm 1:23 pm

Vote
Sen. John “P.O.W” McCain,
’cause the “fundamentals of the economy are strong”
&
Gov. Sarah “Lipstick” Palin,
’cause she’ll put “a moose in every pot”

Posted by: niccolo m@chiavelli | September 18, 2008, 1:23 pm 1:23 pm

Thomas, the Democrats have the answers. Republicans clearly don’t….not on national security and certainly not on economic policy. Trickle-down economics simply doesn’t work! (It’s baffling that Republicans are too brain-dead to figure that out.) And you Republicans supported a war on the WRONG country! Bin Laden was NEVER in Iraq and did not have weapons of mass destruction. Your leadership LIED to the American people, costing over 4,000 Americans and tens of thousand of Iraquis their lives! Republicans need to be thrown out of power for their gross incompetence on both the economy and foreign policy.

Posted by: Danny | September 18, 2008, 1:25 pm 1:25 pm

Senator Obama talks a tough game on the financial markets but the facts tell a different story. He took more money from Fannie and Freddie than any Senator but the Democratic chairman of the committee that regulates them. He put Fannie Mae’s CEO who helped create this disaster in charge of finding his Vice President. Fannie’s former General Counsel is a senior advisor to his campaign. Whose side do you think he is on? When I pushed legislation to reform Fannie Mae and Freddie Mac, Senator Obama was silent. He didn’t lift a hand to avert this crisis. While the leaders of Fannie and Freddie were lining the pockets of his campaign, they were sowing the seeds of the financial crisis we see today and enriching themselves with millions of dollars in payments. That’s NOT CHANGE, that’s what’s broken in Washington.
Those same Congressional leaders who give Senator Obama his marching orders are now saying that this mess isn’t their fault and they aren’t going to take any action on this crisis until after the election. Senator Obama’s own advisers are saying that crisis will BENEFIT him politically. My friends, that is the kind of me-first, country-second politics that are broken in Washington.
Today Senator Obama’s running mate said that raising taxes is patriotic. Raising taxes in a tough economy isn’t patriotic. It’s not a badge of honor. It’s just dumb policy.

Posted by: We are the Marxists we've been waiting for | September 18, 2008, 1:27 pm 1:27 pm

A note of clarification to my last post: Iraq did not have weapons of mass destruction….obviously Bin Laden did.

Posted by: Danny | September 18, 2008, 1:35 pm 1:35 pm

It’s easier to talk about rumor and innuendo than real issues.(distract)
Boy it sure is, certainly when its so easy to lay the blame at one persons feet. Of course no one wants to really look at what exactly went on and has gone on, like ceo’s of fannie and fredie raiding the till that was intended to provided money to poor families. Or these government backed institutions making political contributions to politicians who would do them the most favors or loan them money, cheaper than what you or I would get it for. Not to mention that we as taxpayers are paying Raines severence pay (114k per month)after screwing up and Raines now advising Mr. Obama. But lets not talk about facts, just blame someone else.

Posted by: david | September 18, 2008, 1:38 pm 1:38 pm

BMR Robert are you ok? You sound a little confussed. Maybe too much bad GOP milk in your baby bottle? Whatever the reason for your mental state – GET A GRIP MAN! I can see you get your facts from FOX NEWS (oxymoron). Please come back when get the facts. And by the way there’s something stuck to your shoe – GOPoop!

Posted by: Bender | September 18, 2008, 1:39 pm 1:39 pm

We are the Marxists we’ve been waiting for
Good post.

Posted by: david | September 18, 2008, 1:43 pm 1:43 pm

To Roger Miller are you serious? McShame has been flip-flopping on the economy all week and then some. First he opposed the bailout then he was on the fence then the latest is we (the government) are doing the right thing with the bailout(?) Sounds like you need to read the print or listen more closely.
Obama/Bidden ’08!

Posted by: Bender | September 18, 2008, 1:45 pm 1:45 pm

Checks and balances, in my opinion, the Republican administration, who has been in power for the last 8 years, failed miserably to regulate banks and lending practices, which caused the mortgage crisis. It should be a fundamental responsibility of a federal government to regulate any process that can destroy our economy. Even when the Democrats had a slight majority in the Senate, since early 2007, Bush has continued to block progress by his power to veto, so Republicans still remained in control. As a result, Democrats have had nothing to do with the failed economic policies of this president, his administration and his party.

Posted by: Danny | September 18, 2008, 1:45 pm 1:45 pm

’cause the “fundamentals of the economy are strong”(m@chiavelli). Thats a funny thing to say , wonder why Barney frank said the same phrase last night on PBS?

Posted by: david | September 18, 2008, 1:46 pm 1:46 pm

Posted by: Obama's Drug Dealer | September 18, 2008, 1:53 pm 1:53 pm

To “ohio for obama” I could not have said it better…so I’ll close with;
Obama ’08

Posted by: Bender | September 18, 2008, 1:54 pm 1:54 pm

109 sistermoon3 on 09.18.08 at 12:24 pm “Big Brother had nothing on the Obamas. They plan to herd American youth into government-funded reeducation camps where they’ll be brainwashed into thinking America is a racist, oppressive place in need of ’social change.’”
Investor’s Business Daily is referring to an organization known as Public Allies.
Has Investor’s Business Daily gone of the proverbial deep end?
Perhaps not. Just in case you’ve never heard of Public Allies, know that there are about 250 separate and unique references on Google comparing it to the Hitler Youth Corp.
No, that’s not a sick joke or exaggeration! In many cases, these comparisons are not made lightly, foolishly or flippantly.
Public Allies is an extremely radical leftist organization that seeks to bulldoze free America and replace it with a totalitarian socialist state.
Investor’s Business Daily goes on in the aforementioned editorial — aptly named “Michelle’s [Obama] Boot Camps For Radicals” — and states:
“But its real mission is to radicalize American youth and use them to bring about ’social change’ through threats, pressure, tension and confrontation — the tactics used by the father of community organizing, Saul ‘The Red’ Alinsky.”
But wait until you hear — as radio personality Paul Harvey would say — “The Rest of the Story.”
Barack Hussein Obama plans to use Public Allies, which he features on his campaign Web site, as the model for a national service corps.
He calls his Orwellian program, “Universal Voluntary Public Service.”
And why not?
After all Obama was a founding board member of Public Allies and his wife, Michelle, was executive director of the Chicago cell

Posted by: HP Boston | September 18, 2008, 2:01 pm 2:01 pm

Jason,
Thanks for your thoughtful response. In my view you’re definitely better off than 8 years ago if what you make today is more than 8 years ago plus the accumulated inflation. A lot of times as our incomes go up, our tastes also change for the more pricey. As someone put it in the past revolutions happen not because of hardships but of unmet expectations. We need to examine what is reality and what is our expectation.
Chasing expectation is not too different from chasing a rainbow. The fun should be in the journey and not at the destination. For ambitious people that little difference is huge and it determines whether an ambitious person is happy or frustrated.

Posted by: Obama-Yah-Wright | September 18, 2008, 2:39 pm 2:39 pm

I hope everyone understands that the reason he hasn’t gone to important GOP events is not from “concern” and working hard to help with Hurricanes or economic meltdowns. Surely you all know the GOP is doing its best to pretend Bush is not one of them. His attendance to fundraisers or the RNC is like poison and they all know it. So now we are getting this schtick that the GOP candidates are “reformers”. It’s funny how they are trying their best to disassociate themselves from their OWN party. Cry accountability and then do everything possible to avoid it. What LOSERS.

Posted by: Edward | September 18, 2008, 2:59 pm 2:59 pm

Obama-Yah-Wright, what a dumbass pollyanna comment. Stay ambitious but don’t chase after rainbow expectations? What planet are you from?
“We need to examine what is reality and what is our expectation.”
Please go ahead and do that, examine reality, but please take off the rose-colored Republican glasses…

Posted by: Edward | September 18, 2008, 3:03 pm 3:03 pm

If too big to fail is a principle to adhere to, then we’d better pass laws to break up companies when they get to a certain size.

Posted by: Obama-Yah-Wright | September 18, 2008, 3:28 pm 3:28 pm

Hmmm… about two months or so before Bush’s presidency comes to an end, and he JUST REALIZED and said that, “He’s Concerned About Economy”?!?! HAHAHA, THIS MUST BE THE BIGGEST JOKE IN THE ENTIRE HISTORY OF THIS GREAT NATION!
OH WAIT, THERE IS EVEN A BIGGER JOKE THAN BUSH’S: *** JOHN MCCAIN said a few days ago:
“The ‘Fundamentals’ of our economy is STRONG.” — John McCain
===> The next day, several major US companies went bankrupt, causing a shockwave through the stockmarket and international stockmarkets!!!
HAHAHAHAHA!!!! HAHAHAHAHAH!!!
“THE FUNDAMENTALS OF OUR ECONOMY IS STRONG!!!” HAHAHAHAHAH!!!!

Posted by: The fundamental of our economy is "strong" -- John "I don't know much about the economy" McCain | September 18, 2008, 3:48 pm 3:48 pm

“The ‘Fundamentals’ of our economy is STRONG.” — John McCain
HAHAHAHA!!! John McCain is better at stand-up comedy than Jay Leno, David Letterman, and Jimmy Kimmel combined! HAHAHA!!!

Posted by: The fundamental of our economy is "strong" -- John "I don't know much about the economy" McCain | September 18, 2008, 4:07 pm 4:07 pm

Oh sure, now Bush is worried about the economy when he’s leaving office and dumping the problems on the next president.
Why wasn’t he worried about it 8 years ago when he could have done something about it.

Posted by: LOfromMO1 | September 18, 2008, 4:10 pm 4:10 pm

Everybody do USofA a favor and put an Independant in as Chief. Let one who isn’t rubbin elbows w/both parties who will tell you how, where, why, and who with TOTAL transparency. Comfort Zones don’t fix many problems when your zone is part of the problem. Both parties are responsible for our current crisis’

Posted by: BITTERSWEET4U | September 18, 2008, 4:14 pm 4:14 pm

If any one think Bush is going to do something about the Economy ,then they are bigger fools than Bush.What did he do the last two years while our foundation was eroding.
Hope people realize that John McCain and Palin is not the change we need for our children and grand children.

Posted by: Eliachen | September 18, 2008, 4:40 pm 4:40 pm

Bush just validated Obama. McCain’s dimwitted behind said the Economy was fundamentally sound, and Bush understands that people are concerned about the economy because it is NOT fundamentally sound, people are losing money and their jobs! Security of the country is not only from terrorists and invader’s, but also from economical failures, etc.

Posted by: MyAudacity | September 18, 2008, 4:42 pm 4:42 pm

The ‘Fundamentals’ of our economy is STRONG.” — John McCain
HAHAHAHA!!!

Posted by: John "I don't know much about the economy" McCain | September 18, 2008, 4:44 pm 4:44 pm

Where was this brainless bafoon dreaming of Bagdad more like it when all this started now he is concerned well slap me silly. and he was elected twice didn’t anybody learn from the first 4 years of this jackass.

Posted by: Rose Szymanski | September 18, 2008, 6:38 pm 6:38 pm

Bush Says He’s Concerned About Economy? Wasn’t he the one who destroyed it?

Posted by: bea | September 18, 2008, 9:48 pm 9:48 pm

Boy am I glad I can say i did not vote for him either time so I can bitch all I want to. I would rather vote for someone that a least remembers what he says and can admit mistakes than someone that lies right and left or does he really have dementia and just doesn’t remember .

Posted by: Rose Szymanski | September 18, 2008, 9:52 pm 9:52 pm

You complain Bush is a neophyte or newbie who did not have experience. Well that description fits Obama. McCain knows how to get things done. Obama is a newbie with 143 days of voting present and the rest of his time campaigning raising money which is what he really enjoys. The Big Mistake would be to put in another NEWBIE like Obama. We need proven people who will clean up the house like McCain and Palin. Real Reformers.
Obama should be arrested for Treason in Iraq and Kenya and put into jail. He is obviously self serving and does nothing for anyone else. What has he done for George at dollar a month. and what has he done for other Dems to win election. NOTHING. Everything for Obama.
I hope the Berg lawsuit makes some progress real soon.

Posted by: Democrat No More | September 19, 2008, 6:40 am 6:40 am

LO from MO – Don’t kid yourself – bush couldn’t have done n e thing about it – he’s not that bright -
I doubt he can put his pants on by himself in the morning.

Posted by: q188r | September 19, 2008, 9:38 am 9:38 am

LO from MO – Don’t kid yourself – bush couldn’t have done n e thing about it – he’s not that bright -
I doubt he can put his pants on by himself in the morning.

Posted by: q188r | September 19, 2008, 9:38 am 9:38 am

Democrat no more -McMoron knows how to get things done? Are they the kinds of things we want done? Are they the kinds of things YOU want done?
Are you willing to accept and live with the disastrous policies that are sure to come w/ that imbecile in charge? Disastrous policies? you ask, look around you – what’s going on in the country today – it’ll be a lot like that – but worse – oh yea and more war. Is that what you’re looking for ?

Posted by: q188r | September 19, 2008, 9:45 am 9:45 am

here’s a thought upon reading all the comments:
uniter vs divider? which is it per the decider?

Posted by: lostrax | September 19, 2008, 1:41 pm 1:41 pm

here’s another thought…actually a prediction:
on the last day of his presidency, as he pauses in the chopper door before his last flight to rancho-malario, junior will turn, draw the news mikes in real close and whisper with a smirk, “new-clear” as he gives us a one-finger salute goodbye.

Posted by: lostrax | September 19, 2008, 1:57 pm 1:57 pm

The only thing Bush is concerned about now is preparing his huge pardon list. If he hasn’t started already, he might not get everyone listed.
He can forget about a positive legacy or having his image on anything paper (money, stamps) lest people who remember write down what they really think of him.

Posted by: Ricardo | September 19, 2008, 2:53 pm 2:53 pm

hhh

Posted by: andre | November 8, 2008, 6:59 am 6:59 am

sorry for that post
I read about half the post and found them right on the target . It’s amazing how smart we are and we ended up with bush.
I think bush has given up on great and is now shooting for infamous . he wants his name up there with hitler . glade to see some people remember the s and l scandels too bad we dont learn from history

Posted by: andre | November 8, 2008, 7:06 am 7:06 am

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