September 25, 2008

Bush on the Bailout

The news desks will only give you 30 seconds of the speech Bush gave last night. In all fairness, their formats don't allow more than that. So here's the entire speech.

If you want to cut through the politicking on the issue, learn some history behind the crisis, and the reasoning behind this bailout, it's worth 13 minutes of your time.

Note: No blame or political finger-pointing, although he certainly could have taken advantage of the spotlight to do so.


Draco said...

Let me be the first to point a finger -- at the general public.

If you're on a payment plan for anything other than a house, car, or emergency medical procedure, YOU'RE a dumbass.

If your combined bills don't leave 20% of your pay to save every month, YOU'RE a dumbass.

If you're driving a luxury car, but can't afford one, YOU'RE a dumbass.

Dumbasses of America, you caused this. The government could have set up better rules, but ultimately, it was people who don't know how to budget and save that caused this.

Personally, I think a credit crunch might help.

And I'm willing to go as far as to say that I'll vote for the candidate who tells this to the American people.

I'm holding my breath.

Anonymous said...

"If you're driving a luxury car, but can't afford one, YOU'RE a dumbass."

Hey Draco, remember me? The guy you accused of being a racist?

-Remember what I said about the Escalades?

And the Clinton administration pushing the financial institutions to service loans to low income families didnt have anything to do with this?

-Oh, and by the way, it's not being a racist. It's being a realist.

Draco said...

Actually, as I recall, you wrote about stereos and rims.

And I'm not sure that the demographic you brought up is exclusively responsible for THIS crisis, so I don't follow your point.

And as I'll point out again, the F&F bailout us a part of the larger system. So if you think low income housing is responsible for this, then I suggest you pick up a WSJ, and then look up "leverage", as it pertains to investments.

Clinton had 0 to do with lending practives of private institutions.

Draco said...

And if you think that people, as you described them, inform your view of reality, then you're a racist. Stereotipically.
If you think I'm wrong or unfair, try standing on any inner-city corner and shouting out what you wrote.
Let me know how that works out for you.