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That Bush guy--not so bad afterall
Posted: Nov 9, 2010
WASHINGTON -- The conventional wisdom, at least in some parts of the political press, held that President George W. Bush did the Democrats a disservice by not launching his book tour before the 2010 elections. The thought process being that a reminder of the follies of his administration would have caused series headaches for the Republican Party, which was pledging that they had moved beyond the Bush years.
On at least one policy front, however, it seems likely that the Obama White House would have welcomed Bush's presence in the national political conversation. For the second time in as many days promoting his book "Decision Points," Bush offered a hearty defense of the Troubled Asset Relief Program, which was initiated under his watch to save failing banks but was used to tar Democrats in the 2010 elections.
"If you are the pres you don't have time to gamble and I didn't like using taxpayers money to bail out the people who got us in trouble. I didn't like it at all. But when you are president you are faced with stark choices and I couldn't have lived with myself had the country gone into a deep depression," Bush said, during a radio interview with conservative host Rush Limbaugh. "People's lives would have been affected, people thrown out of work. There are a lot of people not in work today and all of us are concerned about that. But the situation could have been a lot worse."
Would he do it again? "Yeah, I would've," he said.
A good chunk of the country, it's now known, mistakenly believes that Obama was the one who initiated the TARP in part because it fits in a common, preconceived narrative that government intervention into the economy is Democratic philosophy. Bush was asked about the misconception during a sit down interview with NBC's Matt Lauer and, as with Limbaugh, was upfront about the reality.
"Fifty percent of the people were wrong 'cause it happened on my watch," he said.
Such bluntness would have been a welcome relief for the current White House and others in the Democratic Party, which took a heap of blame from the Tea Party crowd for rescuing the financial sector in the fall of 2008. Obama did oversee the second part of TARP but a reminder of the program's ties to Bush and its support by a good chunk of the GOP could have disarmed a bit of the voter anger that was exhibited last week.
"They do hate it. I can understand that," Bush told Lauer. "Look, the idea of spending taxpayers' money to give to Wall Street and the banks to save them... a lot of people think they created the crisis in the first place and so I can understand the angst. But in my case, I wasn't worried about angst, personal angst or contradiction. I was worried about the economy goin' down. And I believe TARP saved the economy."
;
Most of the people who voted to fill those 60 seats.... - sam
[ In Reply To ..]with Republicans this round are well aware TARP began in Bush's last months as President. Of course, Obama had the option of stopping it. He didn't. Why? Because obviously he thought it was "necessary" too. Not only did he not STOP it, he expounded on it, which this article dutifully leaves out. Let us not forget bailing out GM and the infamous cash for clunkers fiasco. That was not part of TARP.
Perhaps TARP did save the economy. But they also did not address what caused the financial implosion on Wall Street either. Barney Frank. Democrat. Fannie Freddie collapse...on Barney Frank and the Dems goofy enough to follow him off that cliff and the few Republicans who followed him off that cliff. THAT is what caused the meltdown that made TARP necessary if in fact it WAS necessary. And THAT was not on Bush. He sent reps to the congressional meetings on it to warn Frank not to go forward, but we all know he did, and we all know what happened.
This is definitely the view from the left side of the issue. Who always conveniently forget what CAUSED the meltdown.
You can tell this is a left view because again...they don't get it. TARP played a very small role in what happened last week. Obamacare is the main thing that happened last week, and the message was we told you we did not want it and you shoved it through anyway...translated means we are tired of you not listening to the people you supposedly govern.
STILL the left misses the boat. Sigh.
Bush - the left side - and you are
[ In Reply To ..]the far side.
The article had a left slant. Did you even read the post? - sam
[ In Reply To ..]Of course, those who live on the far left have no idea any other plane exists, so your post is understandable. Sorry for thinking there might be one of you left with an open mind. Geez, you would think I would learn.
The Barney Frank issue is verifiable, but of course since it is the truth you run from it. Again, disappointing but understandable.
Have a nice left day! :)
Don't you understand irony? - Oh yeah, no sense
[ In Reply To ..]of humor. Sigh. I guess you can't fix that. Maybe you could get one of those disability things.
I have a sense of humor...just not like yours, obviously... - sam
[ In Reply To ..]sorry I missed the "irony." So, how do YOU feel about Barney Frank being the orchestrator of the Wall Street implosion?
A left slant? with a - A quote from Bush/Rush Limbaugh inteview?
[ In Reply To ..]How far right are you?
The left quote Limbaugh/Bush all the time...how far left are you? - sam
[ In Reply To ..]nevermind. I already know the answer.
I guess there are a lot of us from the "far side" - Pretty much agree with
[ In Reply To ..]all of her posts. Always right on target. I have seen her take the biggest beating for posting the truth, calling her rude because she doesn't agree with their veiws. It's rediculous. Most republicans feel the same way, and if you haven't noticed, there are a lot of us!
Well said! Finally someone with some - sm
[ In Reply To ..]intelligence and common sense on this board. It amazes me how blind so many people are. Don't let any democrats take responsibility for their actions and blame Bush for everything. If someone disagrees with you, call them names while skating around the real issue. Gotta love those loony lefties!
That Bush Guy... - earlymusicus
[ In Reply To ..]"not so bad after all"??? Ask the families of the troops who were killed in Bush's wars for profit and oil if they think Bush wasn't so bad. Bush has blood on his hands, he is a liar, a murderer, a war criminal - and he should be tried for war crimes and hung.
Yes, a different topic, - but you are right
[ In Reply To ..]I commend him for taking responsibility for the economic crisis.
Bush interview - deedee
[ In Reply To ..]I think everyone forgets that this whole economic meltdown ACTUALLY came about because people got mortgages for homes they KNEW they couldn\'t afford. If not for those idiots, none of this would have happened. And, of course, the banks greediness to make the loans to these folks also had a hand in it. It caused this whole chain of events and its the people who did this who don\'t want to accept responsibility for their stupidity. They were living off plastic and couldn\'t make those payments either.
The banks gave loans to those who couldn't afford it because - Backwards Typist
[ In Reply To ..]of Barney Frank via Fannie and Freddie, Clinton, and the dems. The banks were pressured to give risky loans with zero down payments so everyone could have The American Dream. It didn't matter that people couldn't afford them. Just get them into the home. They would deal with it later and you know what we got out of it.
Below are just 3 articles of the hundreds out there on this.
http://query.nytimes.com/gst/fullpage.html?res=9C0DE7DB153EF933A0575AC0A96F958260&sec
http://www.businessweek.com/the_thread/hotproperty/archives/2008/02/clintons_drive.html
No, the banks did it because they - were greedy
[ In Reply To ..]They falsified records, appraisers were appraising homes over their real value, and the banks were pushing it all along. They there was the "sleight of hand" in the packaging of bad bank loans that the big banks knew were not good loans. Look into Lehman Brothers, Countrywide, Citi, etc.
There is much more to the meltdown that includes the Iraq war which was not paid for, hedge fund schemes, health insurance gouging, and $4.00+ gas.
Look into Barney Frank and the house hearings... - sam
[ In Reply To ..]on this subject. Of course, all the articles give the info too. The Congress are the ones who brought pressure to bear on the banks...they put that pressure on and when all those defaults came in the banks, investment firms, etc., were left holding the bag. You really need to try to get a grip on reality.
Because banks are greedy...are you KIDDING??? There had to be pressure for a bank to make a loan to someone they KNOW may not pay it back...there were pressure and promises that if there were defaults they would be taken care of. Well, the defaults happened and Barney Frank and Congress were nowhere to be found, so banks, investment firms, et al, started failing like crazy. It was only when it got to the really BIG ones like Lehman brothers and countrywide (oh, and while you are looking into countrywide, look into Chris Dodd's relationship with them...he was the senate counterpart to Barney frank and oh my...ALSO a Democrat.
You think YOU could have walked into countrywide and got a loan you couldn't afford? No bank in their RIGHT MIND would loan money to people with sorry credit or no credit and an income that would not support the payment.
For the love of pete, friend. Use your head.
Read the articles I posted the links or research it yourself. - Backwards Typist
[ In Reply To ..]It was Barney, Fannie/Freddie, and Clinton for the housing crisis. Hedge fund schemes are what got Lehman into trouble.
Countrywide was a guy who was plainly greedy and dealt in mortgages and lied to the people to make the almighty dollar. He didn't give a darn about anything except making money. The pressure from Barney/Fannie/Freddie and Clinton to give mortgages gave this guy the opportunity he was waiting for and he took full advantage of it.
As for the banks, they took the appraiser's judgement. No loan is ever approved for a martgage without the property being appraised first.
It still all comes down to the 4 mentioned above. Read and research.
That calls for accepting responsibilty and for some reason... - sam
[ In Reply To ..]they aren't willing to do that. Easier to blame Bush.
Common sense should tell you if banks were greedy the LAST thing they would do is relax lending standards nearly knowing there were going to get zilch on their return and actually lose money. That makes no sense. They were counting on Barney Frank and Chris Dodd to make good on the promise to back them up if the mortgages went south and that did not happen. Only after so many smaller banks had failed and the bad paper followed them all the way to the stock market and it started failing did the government step in.
There is no one but Frank and Dodd and those who believed what they said that caused this mess. Sigh. And the left continues to re-write history.
You are SO wrong!! Banks WERE pressured...and - think about it. Banks only want to loan to
[ In Reply To ..]those who will pay them back, duh. Oh, and your senseless comment about gas prices.. They may go back to 4 bucks soon. So, now whats the excuse? Also, my health insurance just went up NOW!! Oh, thanks Obama.. yeah, you are really improving everything, you and Pelosi, with your stimubust.
Shame on you! My nephew is a soldier. I showed him this. - His response... "SHAME ON YOU!".nm
[ In Reply To ..]nm
I'm no Bush fan...but - SM
[ In Reply To ..]As they say "war is hell". Families are losing their loved ones every day, and since Bush has left office soldiers are still dying. Obama could pull out but he's not. No, because there are people making profit off this.
If you are going to start calling people murderers, war criminals, etc then you better include all the other presidents in office while a war was going on to include the current one.
War is war. There is never anything good about it. But our soldiers fight to protect our freedom. I did it, my DH did it, my cousin, father and grandfather did it.
Never once did we ever think our Commander in Chief was a war criminal, murderer, etc.
If those are your feeling so be it, don't drag in and dirty the names of our great soldiers and their families. Many of them still like Bush and believe what he did was right.
Bravo! I totally agree.nm - mtt22
[ In Reply To ..]nm
Yeah, but what did we accomplish in the Iraq war? - sm
[ In Reply To ..]I'm sorry, we didn't accomplish anything. There were not weapons of mass destruction. That was the reason we went to war, right? Or was it to spread democracy? Or, wait, to get rid of the evil dictator. Which it turns out that country actually needed to keep their fragile peace, who knew?
Save your patriotism. This Iraq war WAS pure evil. It was started by Dick Cheney because he wanted to make money for Haliburton, among other reasons. This wasnt a war about protecting our freedom. It just wasn't. It was about evil and money. And I think on some level you know that, from your post.
Another accomplishment? - More world enemies - nm
[ In Reply To ..]
How naive are you? Apparently very. nm - GetReal
[ In Reply To ..]nm
Well, for one thing, we have not had another... - sam
[ In Reply To ..]attack on our soil from radical Muslims.
There were weapons of mass destruction. They found caches of nerve gas, remember, the gas he killed thousands of his own people with?
They also found a terrorist training camp in Northern Iraq. With the fuselage of a 747 in the desert to use as a training aid. Or do you think someone just dumped out there?
Well, if you call "fragile peace" a dictator who killed anyone who disagreed with him (ask the Kurds...oh wait..you can't, he gassed them). "Fragile peace" that includes rape rooms, dropping people off the tops of buildings on their heads...oh yes, we really screwed up by messing up that "fragile peace."
All that does not matter now, it cannot be undone. However, Obama could have stopped it and he has chosen not to. There must be a reason for that, right? For some reason he thinks we still need to be there. And he has escalated the fighing in Afghanistan. Everybody said that was because he was going to get bin Laden. Well he has not had any better luck doing that than Bush did.
I, like others, am no great fan of Bush, except as to how he handled the aftermath of 9-11. This country could have come out of that far worse if he had not rallied us. We needed a strong leader and he was that, at a time we needed one. I for one wish we could get back the united feeling we all felt when congress stood on the steps of the capitol as Americans and sang God Bless America. There were no parties on those steps that day, just Americans united. How sad is it that it took a savage cowardly attack and the loss of 3000 lives to get us to that point, and how equally sad that we are again divided, as soon as the smoke cleared.
There is something fundamentally wrong with that picture.
Neither did we in Somalia - You didn't understand my message
[ In Reply To ..]Do I agree that we needed to go to war? My personal feeling is no we did not. I feel it was an unecessary war. That's my personal feeling.
My message was you are blaming Bush for the war and calling him a murder, etc. Guess what....Bush didn't start the war. Last I knew the president of the united states does not have the authority to start a war by himself. The war was voted on and agreed to by congress. And guess what. There were democrats that voted for it. Besides, forget the congress, Bush still isn't in charge. I've been reading all he did was sit in a seat and take orders. Chaney, Rice, Rumsfeld and all the other people were really the ones in charge and decided to do it.
But still as a former soldier in the US Army we didn't consider our commander in chief a murderer, etc. Before you start flinging those words around you should do a little fact checking and research. To call him a murderer, etc, then you better be prepared to call Obama, Clinton, and all the other presidents who held the seat during a war the same thing.
I wouldn't call the war evil. I would call it unnecessary, but then then again I wasn't sitting in on meetings and all the other stuff they got their information from to do this, so I don't have all the facts. I wouldn't call it evil. I call it unfortunate. There is a difference between the two. If you really want to get into a discussion about evil we'd need a new post about Pelosi, Clintons, Soros, etc, and the clan trying to stay in power. But that's a different post.
May I say, thank you so much for your service to our country. - sam
[ In Reply To ..]Without our military, we would certainly be in dire straits. God bless you!
So many agree with you - nm
[ In Reply To ..]
Hello? Bush did not start a war....Congress did. - sam
[ In Reply To ..]A President cannot start a war. Only Congress can start a war. They signed off on the bill that gave him the power to send troops. Democrats too. So I suppose that makes them liars, murders, war criminals who should be tried for war crimes and hung?
Obama ran on the fact he was going to pull the troops out of Iraq immediately. Last time I looked we were still fighting there and in Afghanistan, in fact we have escalated the war in Afghanistan.
And by the way, the President CAN stop a war. He can pull troops back at any time. This one hasn't.
You really need to let go of that Bush hatred. He has been out of office a long time and this President has changed nothing but the national debt (it has gone UP) and lost thousands more jobs.
If you are going to hate, spread it around. SIGH.
You really ought to listen to your guy Bush - and quit blaming Obama for everything - nm
[ In Reply To ..]
I only blame Obama for what he has done... - sam
[ In Reply To ..]Bush is not my guy. I am not a Republican. I am an Independent. However, you should follow your own statements and not blame Bush for something he in fact was not responsible for, and that is starting the war in Iraq. Yes, he was in favor of it because he believed the intelligence...as did Congress, who actually started the war, they are the only ones who can. As did France, England, Germany, who also sent troops. Geez, why don't you do the research, get the facts, refute a post with facts of your own and don't result to drive-by posting that means nothing other than a bad attitude.
Now as to Obama...I do blame him for doubling the deficit in his first year and 9 months in office. Bush did not do that. Obama did. Obama bailed out GM and that ridiculous cash for clunkers thing. Bush had nothing to do with that. Obama trotted out Obamacare, the biggest entitlement program in the history of the world. Bush had nothing to do with that. Obama could have STOPPED spending, he did not have to CONTINUE what Bush did (he is in fact Bush on steroids where spending is concerned)...but he didn't.
That is what I blame Obama for.
Now Obama should heed your words also and stop blaming BUSH for everything.
Sam...don't you understand that from a - sm
[ In Reply To ..]libtard point of view...you are supposed to believe all the lies out of Obama's mouth instead of actually paying attention to what he does. Also, you cannot debate with facts so you instead blame Bush and call those who oppose Obama racist. That is the code of all libtards. Besides, it is much easier to listen only to MSNBC and repeat what they say instead of thinking for themselves.
I keep thinking that maybe there is one out there willing to listen. - sam
[ In Reply To ..]That's why I keep tryin'. Eventually the headache I am getting from beating my head against a brick wall will make me stop. Sigh.
Its okay, Sam. Keep fighting the good fight. I think - a great deal of USA now sees through Os garbage.nm
[ In Reply To ..]nm
Don't forget the $600 billion Treasuries the Fed are buying - Backwards Typist
[ In Reply To ..]Where's THAT money coming from?
Have you seen the mortgage rates lately? Lowest I've ever seen them and the Fed is buying more treasury bonds to LOWER the interest rates even more, thinking it would get people to spend more of their money.
It's like watching a runaway train you know is going to crash... - sam
[ In Reply To ..]you're horrified but you keep watching. I honestly don't know if we can survive 2 more years of this, even with a Republican house, because he is not going to let them do squat as far as trying to stop any of this. But at least maybe they block any NEW spending he tries to do.
He reminds me of Nero playing the violin when Rome was burning. "I don't smell smoke."
SIGH.
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