09/25/2008
Bush Addresses Nation, Invites Obama and McCain to White House
For the record, above you'll find John McCain's statement (widely mocked and panned political stunt) yesterday that he's suspending his campaign to focus on the economy, as well as Barack Obama's full response (I posted a shorter clip of it yesterday).
President Bush went on national TV last night to address the nation about the crisis.
Bush has invited both Obama and McCain to the White House on Thursday to meet with him and Congressional leaders to try to work out a bipartisan deal on the economic bailout:
"Mr. Bush used his speech to signal that he was willing to address lawmakers’ concerns, including fears that tax dollars will be used to pay Wall Street executives and that the plan would put too much authority in the hands of the Treasury secretary without sufficient oversight."
Watch Bush's address, AFTER THE JUMP...
President Invites Candidates to Meeting [nyt]
George Bush's scary story [salon]
Here's Salon's Andrew Leonard's take on it: "As a rule, presidents in moments of national crisis aim to reassure a nervous populace. But on Wednesday night, Bush faced a unique challenge -- convincing his country that the United States is in such dire straits that we have no choice but to expeditiously enact the Paulson plan to spend as much $700 billion 'so banks and other financial institutions can avoid collapse.' So -- this was no time to channel the ghost of FDR and tell us that the only thing to fear is fear itself. Instead, we were told that we should be fearful, that the 'situation is becoming more precarious by the day' and that 'the market is not functioning properly, there is a widespread loss of confidence and major sectors of American industry are in danger of shutting down.' Yikes!"
Posted 8:45 AM EST by Andy Towle in Barack Obama, Democratic Party, George W. Bush, John McCain, News, Republican Party | Permalink
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"(widely mocked and panned political stunt)"
*shakes head sadly* no it wasn't "widely mocked" ... the left mocked it - the right loved it - those that can think for ourselves were all over the board on it. I was frankly impressed that he did it - it reminded me what I liked about the guy back in 2000. Unfortunately that guy is long dead and buried.
(have no intention on voting for him so relax)
Posted by: yoshi | Sep 25, 2008 9:20:58 AM
Poor Georgie he’s starting to see what life is going to be like at the bottom of the barrel. The most incompetent President ever, presides over an administration of religious lunatics and thieves. The Bushies did more damage to the Government in 8 years than the Soviets could in 50. All he had to sell was fear and the chicken shit citizens among us ate it up and begged for more fear. How now great chicken shit citizenry, now that your pockets have been picked clean by the Republicans? Pray to the sky pixies, raise both your arms and sing songs about “salvation”. That should feed your families, take care of you when you’re sick and also put gas in your SUV. Livin’ large with W.
Posted by: ggreen | Sep 25, 2008 9:37:37 AM
I will start off with this: I like John McCain...
But this latest "announcement" is about all McCain has left. His campaign has been a DISASTER, but given the legacy his party is bolted to, he's doing about as good as he can. There has been positively no substance from him or the GOP other than more rhetoric, exclusionary and isolating tactics.
This "Put the campaign on hold" is nothing more than all of that. The well is dry, what do you have left to run on? As soon as he and Obama are on screen together, in debate, the race is over. All it will take is for Barack to ask McCain to please clarify why he's all over the map.
Honestly, I suspect John McCain is unfit to be president. Mentally and physically. He's had a lifetime of battles and fights that really look and sound like they've taken a toll on him. Look how much he's aged since starting the primary campaign two years ago? He's on borrowed time, IMHO.
So, to reiterate where I started; I like John McCain, but I just cannot vote for him.
Rad
Posted by: Rad | Sep 25, 2008 10:17:34 AM
The republicans have absolutely no credibility on the economy. Bush and McCain have both been beating the "Fundamentals of the economy are strong..." drum for quite a while now...of course when it is obvious that their policies (or lack thereof) have completely screwed up everything they change their tune. Read Naomi Klein's "The Shock Doctrine" and realize how we've been duped and positioned.
Posted by: Mike | Sep 25, 2008 10:18:26 AM
ABC News' Nitya Venkataraman Reports: Former President Bill Clinton defended Sen. John McCain's request to delay the first presidential debate, saying McCain did it in "good faith" and pushed organizers to reserve time for economy talk during the debate if the Friday plans move forward. * * * "We know he didn't do it because he's afraid because Sen. McCain wanted more debates," Clinton said, adding that he was "encouraged" by the joint statement from McCain and Sen. Barack Obama. "You can put it off a few days the problem is it's hard to reschedule those things," Clinton said, "I presume he did that in good faith since I know he wanted -- I remember he asked for more debates to go all around the country and so I don't think we ought to overly parse that."
Posted by: HOGB | Sep 25, 2008 10:30:37 AM
The saddest thing of all, is that many people saw this coming... and no one listened. And the solution that the government is presenting is a band-aid on a torn-off limb. I fear the government is looking too close and isn't looking for long-term solutions that may be painful at first, but ultimately raise the value of the dollar again. Quite frankly, this proposed plan isn't enough.
Posted by: redmonkey | Sep 25, 2008 10:40:37 AM
well, dahlings... what are you all griping about... bush told the truth, my dahlings (for once some of you might say HA HA!) ... thankfully the countess and i put all our money into solid investments that have withstood the test of time... ah those oil wells, keep on pumping and pumping and pumping like for norma desmond... in any case me and the countess have full faith in our wonderful leaders that all will be well... give 'em hell mccain!
Posted by: the queen with the countess de gooch | Sep 25, 2008 11:14:47 AM
THE QUEEN,
could you please send me contact information on how to reach Consuela (or Consuelo). It's getting more and more painful to read your (and the Gooch's) political comments. Someone has to put a stop to this.
Posted by: Derrick from Phill | Sep 25, 2008 11:22:28 AM
Queen: I disgust you, because I know you disgust me.
Consuelo: You are my bad smell.
Queen: You're talking far too much, my child. Far too much. Shut the window. Draw the curtains.
Consuelo: It's late. Everyone's in bed... we're playing an idiotic game.
Queen: Don't interrupt again. I repeat. Are you listening? Are you obeying? I repeat, my tea!
Consuelo: But, Madame, it's cold.
Gooch: Madame is dead. We are beautiful, joyous, drunk and free!
(all dialogue lifted from Jean Genet's 'The Maids')
Posted by: Consuelo | Sep 25, 2008 12:16:19 PM
Ha Ha Ha! Chile, you are out of your mind! And so is Sarah Palin.
Posted by: Derrick from Philly | Sep 25, 2008 12:29:39 PM
I can't wait to hear about the scandals that arise from the use of a $700 Billion slush fund. The parties in DC will become the stuff of legends.
Posted by: anon | Sep 25, 2008 12:36:51 PM
I wonder how large of a check Cindy wrote Bill's foundation to get that quote out of him. McCain spoke at the CGI this morning before "rushing" to DC. as for the debate.
McCain can stay in DC friday night and rest-up for Saturday's treasury meetings. Obama can have the debate without him. it will just have to be reframed as a Q+A with Obama.
Posted by: my2cents | Sep 25, 2008 12:49:28 PM
I have the sneaking suspicion that something BIG is about to go down. I mean, the Republicans and John McCain can't be that stupid can they? No. Something is in the works.
Posted by: Jason (A) | Sep 25, 2008 1:09:26 PM
I've been emailing my congress people with my intense dislike of this bailout. After watching Paulson and Bernake on C-Span yesterday afternoon, refusing to answer half the questions (such as the one from the lady Repub from Florida who suggested they use provisions provided in a law from 1991 so deal with the crisis as laid out in that law) and never giving specifics, it became crystal clear that this is a Bush Co. final power and greed grab. The economy will NOT collapse.
Hell, even given what they did explain of the bailout...all the people struggling to pay mortgages will still be struggling and defaulting. The essential source of the bad economy. The source of the problem the Bush Admin is trying to deal with are the currently valueless derivatives and credit default loans. As one congressman from Queens asked, What's to stop these bailed out companies from NOT reinvesting their bailout money into the economy and giving the money to their shareholders before declaring bankruptcy and folding while walking away with billions! Total bullshit.
Let the Wall Streeters fall. Yes, some will fall with them. Things will lose value. Savings and assets will be lost. But new ventures and companies will fill the vacuum.
I'd rather see the tax money just pay off all the mortgages. That wouldn't even cost close to 700Billion dollars.
Posted by: Ben | Sep 25, 2008 1:16:08 PM
Yoshi
Put down the crack pipe.
The polls all show that a majority of even republicans think
"(widely mocked and panned political stunt)"
Posted by: Jimmyboyo | Sep 25, 2008 1:38:55 PM
Don't forget the expression on that face. His fate is sealed.
Your is not. Do something.
Posted by: BILLOFTHEDESERT | Sep 25, 2008 1:46:02 PM
W looks like a deer caught in headlights...
Posted by: Don | Sep 25, 2008 3:20:12 PM