Bush "Free markets" are the solution; Ah, isn't that how we got into this mess

[Botany]

Bush: Financial system reforms are `essential'
By DEB RIECHMANN – 5 hours ago
WASHINGTON (AP) — President George W. Bush, in a run-up to an international summit on the economic crisis, said Friday that reforms to improve oversight and transparency of the financial system were essential, but warned against too much government intervention in the markets.

In his Saturday radio address, which the White House released earlier than usual, Bush pleaded for patience from the American people. He said nations around the world were responding to the financial emergency with bold measures, but that it will take more time to get through the crisis.

"Our actions are having an impact," Bush said. "Credit markets are beginning to thaw and businesses are gaining access to essential short-term financing. It will require more time for these improvements to fully take hold and there will be more difficult days ahead, but the United States and our partners are taking the right steps to get through the crisis."

The summit begins with a working dinner at the White House Friday night attended by Bush and about 20 leaders from the major industrialized nations and emerging economies. Bush said he would work with the leaders to agree on underlying principles that will guide financial system reform, such as making markets more transparent and ensuring that markets, firms and financial products are properly regulated.

"At the same time, we must recognize that government intervention is not a cure-all," he said. "While reforms in the financial sector are essential, the long-term solution to today's problems is sustained economic growth. And the surest path to that growth is free markets and free people."

[Idealism]

1. Such a thing as a true "Free Market" will never exist

Greed prevents a true utopian free market society from happening. Greed means you must regulate or you will have collapse. Without greed we wouldn't need regulations and free market would really be how it was envisioned. Hard to cut human nature out of our programming, however, and thats why it wont happen and never will

[bluestateguy]

2. America in 2008 = America in 1933; Bush = Hoover; Obama = FDR

nt

[DailyGrind51]

3. "free market" is an oxymoron like "business ethics".

[louis-t]

4. "Yes, the markets are free now"

"but we need to make them free-erer." Wants America to have just enough patience so's he can skedaddle and blame everything on the Obama Recession.

[FKA MNChimpH8R]

5. Talking chimp spouts more bullshit

while world ignores him.