Analysis: Bush holds Washington blame-free

[Solly Mack]

How did it happen, America's grave financial crisis? President Bush offered a bunch of explanations but held Washington completely blameless, painting a picture of a government standing innocently on the sidelines as the economy went off the rails.

Somehow, under Bush's scenario, the country wound up at the precipice of "a long and painful recession" at a time when, apparently, the Congress, the White House, the regulators and the Fed were doing exactly what they were supposed to be doing. Now that the economy has tanked, Bush says the federal government is responding with "decisive action."


Nowhere in his 13-minute speech did the president suggest that the people in Washington who are supposed to keep an eye on the economy missed a step, failed to raise alarms or hesitated to intervene. The guilty parties in Bush's script were overseas lenders flush with cash, American borrowers reaching for more than they could afford, easy credit terms, a banking system eager to cooperate and too much optimism about rising home values.

Bush spoke vaguely about investment banks that "found themselves saddled with" toxic assets and banks that "found themselves" with questionable balance sheets.

[radfringe]

1. anyone surprised??

not me. Challenge: Name one incident/event where bush-cheney inc. has accepted responsibility for a mess.

Name one incident/event where bush-cheney inc. hasn't tried to spin it and blame someone else.

The only thing I'm surprised at is some white house tool not saying the white house was surprised by the crisis as in "no one imagined that _____" or "who could have foreseen ______" or a variation.

but it's still early, smirk-boy was only on the tube last night, I'm sure parrot-perino will have some questions to tap-dance around today.

In my following of the bailout - the repubs have blamed Clinton, the dems, homeowners, the american people in general and/or low-income families specifically.

[Solly Mack]

2. I hope no one is surprised. & I'll not take that challenge.

I read another article where the GOP has decided that McCain is their Leader so it's "only natural" that he - and NOT Bush - lead the way on the bailout issue.


I snickered. Mister can't walk unless he's suspends gum chewing...leads the way.

[Turbineguy]

3. Yes, Officer.....

I was driving along, everybody in the car was yelling "you're going the wrong way!". Other drivers were honking their horns and flashing their lights and now I find myself wrecked. How could this have happened?

Bad timing Bush. The crash was supposed to happen after you left office. But, as a point in your favor, it's hard to time these sorts of things.

[Solly Mack]

4. lol! That about covers it

[peekaloo]

5. What ownership society? Privatize shoshul shekurity for the stock market, who me?

reminds me of that snake oil salesman from Sweeney Todd.

time for a haircut Boo$h.

[Solly Mack]

6. OK...but he doesn't have to sing though, right?

[magellan]

7. The Party of Personal Responsibility devolves to Finger-pointing, again

Don't worry, BushCo. The American public aren't afraid to finger-point either. And our middle fingers outnumber yours.

[Solly Mack]

8. My middle finger has been up so long it's cramping