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Bush Admits He Was Forced to Abandon Free Market Principles
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by mike_yvr | December 16, 2008 at 06:18 pm
174 views | 8 Recommendations | 4 comments
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Yes George, the market doesn't always have the best interests of your electorate at heart.
US President George W. Bush said in an interview Tuesday he was forced to sacrifice free market principles to save the economy from "collapse."
"I've abandoned free-market principles to save the free-market system," Bush told CNN television, saying he had made the decision "to make sure the economy doesn't collapse."
Bush's comments reflect an extraordinary departure from his longtime advocacy for an unfettered free market, as his administration has orchestrated unprecedented government intervention in the face of a dire financial crisis.
"I am sorry we're having to do it," Bush said.
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at 02:11 on December 17th, 2008
Maybe his f&^%ing free market principles dont work!
at 14:24 on December 17th, 2008
Maybe he has no idea what the hell he's talking about, and I'm beginning to agree with the communists that he might really be stupid. Only a moron could say that with a straight face, "abandon x principles to save the x system". Self evident that he doesn't understand it.
at 17:53 on December 17th, 2008
I blame Alan Greenspan for most of the debacle.
The lending laws were changed in the late 80's when he came on board....and those lending law changes have caused chaos.
Greenspan even acknowledged he didn't think things would turn out the way he did and he was "wrong."
"Oops. I was wrong." Alan Greenspan's great last words.
at 21:22 on December 18th, 2008
No, the problem is that Bush was never a real capitalist in the first place, or even a good conservative. He abandoned low tariffs and adopted high steel tariffs to try to impact a Pennsylvania campaign, then signed into law the stupid "No Child Left Behind" bill, then increased farm subsidies, expanded the gov't with the Department of Homeland Security (what are the jobs of the FBI and CIA?), and then began a brand new socialist drug program.
Bush is the worst thing to happen to the GOP in 40 years, and has taken us back to that point. We are pre-Nixon now, looking for a Goldwater/Reagan team to get us back up. He didn't even have it in him to point out that the banking mortgage problem was a predictable response to creating and supporting entities like Fannie and Freddie, who's goal it is to give loans to uncreditworthy people. Instead of bailing them out with MY money (making me stay in a home I can afford) so I can help pay for homes of other people who can't afford their mcmansion, he SHOULD have ended those programs and kept from bailing out Wall Street, the automakers, and whoever else has his hands out.