Bush warns of recession without rescue plan; invites Mccain, Obama to meeting

Thursday 25th September, 10:13 AM JST

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cleo at 09:53 PM JST - 25th September

pretty insensitive to Americans' plight. What the heck is wrong with you?

I wonder if Sarge feels sorry for patricides on account of how they're orphans.

Moderator: All readers back on topic please.
SushiSake3 at 09:56 PM JST - 25th September

The Republicans - the Party Of the Rich - have no one really but themselves to blame for this shocker.

And as the situation gets worse, Obama's poll ratings just go up and up as more and more patriotic and sensible Americans realize john mccain is not and never was the man to fix this mess.

**john mcain - crap pilot, serial flip-flopper, woman panderer, economic airhead, and one half of the 'famous' McCain-Palin Celebrity Ticket ** :-)
SushiSake3 at 10:00 PM JST - 25th September

Sarge and the other Republicans out there - I'd advise you now to quit kidding yourself that john mccain is right for America.

Sure, Obama's not perfect, but compared to mccain, he has far more redeeming qualities - and very importantly - better wisdom and better judgement than the old guy will ever have.

Do you **really **want to wreck the nation you love even more by voting mccaain?

Isn't it time you joined join the rest of the world and get serious about your nation's future?
RomeoRamenII at 10:56 PM JST - 25th September

Obama spokesman Bill Burton said the senator would attend

Heh, looks like obama was against returning to DC before he was for it.

Rodney
Alinsky4prez at 12:36 AM JST - 26th September

The Republicans - the Party Of the Rich - have no one really but themselves to blame for this shocker.

Barack raised 60 million in August!
ca1ic0cat at 05:07 AM JST - 26th September

fools rush in where angels fear to tread....

After all the other dire consequesces GW has warned us about - and the real ones that he missed completely - I have to wonder if I'm really willing to hand $700B to a bunch of looser bankers.

It might be reasonable if congress set up it's own group to pick up non-performing mortgages from individuals as they became problems. Congress could set up something to provide liquidity for auto loans they way they did student loans. Such measures would have to have sunset clauses as well as caps. They would require a lot of work and a lot of people to do that work. Sort of a WPA project to help people get jobs.

Then let the investment bankers go broke.
KitsuneYoukai at 05:08 AM JST - 26th September

Sorry guys but unless your up on facts about how we got here, it was all in the legislation the majority Democratic Congress set in motion. So, the key here is to avoid the same mistakes again. The Republicans did not do this. Obviously by some biased posters here towards Democrats who do not want to hear the truth or know the facts want to blame this on Republicans. It amazes me the lies told time and time again. I don't want government telling me how to run my life and that is what exactly the Democratic party wants to do. the government owes me nothing, it is up to me to take care of my life and succeed.
SuperLib at 05:14 AM JST - 26th September

What amazes me is the obvious political maneuvering. If an issue this big can't shake people from the grip of polarization, what will?
Good_Jorb at 05:25 AM JST - 26th September

The lovelyness of partisan politics, the Republicans did not do this, the Democrats did this. Will anyone blame the real culprit? Every person, business, corpration and politican who thought it was to live the dream by paying for it in debt.

Kitsune, of course the goverment owes you nothing because you owe the government more. The money for the $700 billion welfare check has to come from somewhere(Taxpayers). I guess for libertarian like yourself, the Republican plans for the socialization of the basis for capitalism in America is ok?
adaydream at 05:43 AM JST - 26th September

Thank you george bush for your wonderful guidance as our president and leader. That being said, I believe that you did your best. It's just not in your being to be honest and forthright with the citizens of the United States.

you screwed the nations and started your war. you gave away $4,000,000,000,000.00 to the richest 1% of the nation.

then your leadership allowed the stock market to crap out. Remember saying day after day, Our economy is strong!!!. OUR ECONOMY IS STRONG!!!!! Then overnight, Our economy is in dire straits. Where have you been all this time?

Why has he been talking out the side of his mouth for months and months?

george bush's policies and war stradegies have wrecked this country. < :-)
yabits at 07:34 AM JST - 26th September

KistuneYoukai writes: "Sorry guys but unless your up on facts about how we got here, it was all in the legislation the majority Democratic Congress set in motion."

What specific piece of legislation are you referring to? Titles and/or bill numbers would be appreciated. No economist that I have read has come up with anything resembling this statement. Where are you getting your "facts?"

The simple fact is that the Bush administration had all of the regulatory tools at its command to have prevented this, should it have decided to use them.
Sarge at 08:10 AM JST - 26th September

Sushi: "Sure, Obama's not perfect"

I'll go along with that.

"... but compared to mccain, he has far more redeeming qualities"

Only someone who is clueless could say that. McCain is not the one who surrounds hmself with communists, Marxists, domestic terrorists and anti-American bigots.
Betzee at 09:30 AM JST - 26th September

Yabits,

Today I read a piece by Ron Suskind in which he compares the 2001 implosion of Enron with the 1993 World Trade Center bombings. Both should have been heeded as wake-up calls that we had entered a new world.

I remember asking my CPA brother why Enron had failed in the immediate aftermath of the headlines. He couldn't say without studying it more closely and no wonder; they had fooled Aurthur Anderson into thinking their balance sheet was healthy. Finance had become so arcane it was possible to disguise losses even from those trained to look for them.

Instead of acknowledging the potential damage this could to our economy, Enron was written off as the work of a "few bad apples." Never mind Kenny Boy had been everyone's best friend in the glory days. While Enron was a disaster for many of its employees whose savings were wiped out (after the top brass golden parachuted to safety), it didn't cost the taxpayers anything (unless you lived in state where they had rigged the energy market). By contrast, this is gonna cost us plenty....
yabits at 11:26 AM JST - 26th September

Betzee,

I don't know about other places, but the USA is a society that values reaction to a crisis to the point where we allow problems to fester into crises just to create the opportunities for heroes to rise up and save us. Having the foresight to deal with problems while they are still germinating is something for which there is little or no appreciation whatsoever.

Regardless of some of the differences in causes, the dot-com bust and the Enron/Arthur Andersen collapse should have sent out alarm bells. I am positive that a number of people in government saw the dangers, but those in a position of authority preferred not to listen.
adaydream at 05:58 AM JST - 27th September

Now where are those folks who advocated so hard for george bush's plan to privatize Social Security? With the greed of Wall Street, we'd have put $Billions there and we'd still be rescuing the market. < :-)