Jody Lee
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Bush Caves, We Pay
Posted On:Jul 23, 2008
It reflects a mindset that I have long held will be the ruin of our country if allowed to continue unchecked. It is bad enough when the government bails out companies to keep them afloat instead of letting the free enterprise system of business dictate survival of the fittest. But now they want to bail out private citizens, too.
Bush has nothing to lose at this point except self-respect – there was no political reason for him to cave. But he did. And now I have to go kick something.
Sigh. I’ll try to make it something inanimate.
Posted by Jody Lee Back to the blog »
Reader Reactions
Posted by ( rawbleedorange ) on July 23, 2008 at 8:47 pm
i can’t believe it either but i kinda expected it. what a big ole crock of B.S.! this is pitiful in all aspects of being personally responsible.
Posted by ( D.Hutch ) on July 24, 2008 at 4:41 pm
Not only should those people that bit off more than they could chew be held accountable, but also the S&L;’s and Banks for linding money on morgages without an indepth investigation of the borrower. The loan companies saw that as a way to make a fast buck, now they are sweating the results of bad management decissions, so now they are on hand and knee begging a brainless goverment to come riding into town to save their a er day. Let everyone take their whipping and learn one of the many leason’s my parents taught me, “never but more on your plate than you can eat and never but more in your mouth than you can chew” also “never buy more than you can afford”
Posted by ( Ricky A.W. Curtis ) on July 24, 2008 at 6:36 pm
Jody,
You nailed the problem. You are absolutely correct in that “there was no political reason for him to cave.” This is true because he is not going to try to convince Congress to pass any additional substantial legislation prior to November.
But, you are also correct in that he has self respect to lose.
Unfortunately, Political discourse has degenerated to the point that if the President had oppossed this bill he would have been called, like David Davis was in this web-site’s sponsoring newspaper, someone who votes “against the little people.”
To those who shape public opinion, every decision is motivated either by politics, class, race or some other dividing attribute, i.e, you are either for the little people or for evil corporations. The possibility does not exist that a President or a Congressman would make a policy decision based upon something such as the value of personal responsibility, the appropriate role of the federal government, etc.
So, you’re right. The President should oppose this bill. But, doing the right thing will only get him labeled heartless, a tyrant, and as someone out of touch with America’s working families.
Posted by ( Jody Lee ) on July 24, 2008 at 8:11 pm
Just fyi, people, the dog and the cat are fine. I kicked the footstool.
jl
Posted by ( nanaof150 ) on July 25, 2008 at 12:24 pm
That’s the exact reason my family doesn’t own a home. We know we plain can’t afford it. We pay our bills and take care of our own. That’s what everyone else should do. If you can’t afford the payments, don’t buy it. Our daughter had to get a little bit of help when she couldn’t make her car payments for two months after she broke her ankle and was off work. She is now caught up on her payments and worked her tail off to do it.
We should not be forced to pay someone else’s bills when it’s all we can do to pay our own and keep food in the house and gas in the car. Thanks for letting me blow off steam. This just plain makes me mad.
Posted by ( dadw5boys ) on July 31, 2008 at 6:12 pm
You better be glad they are proping up home values. The FBI is neck deep in Fraud investigations. So many in fact they are only going after the really bad ones as the Bush Adminstration is pushing Government and the Federal Resever to SHOVE THESE LOANS off on Fannie Mae and Freddie Mac who had very few bad loans on their books.
The so called Religious head of Country Wide loans is linked to bribery of officals, collusion with appraisors to over value homes, and illegal loans people with 2 or 3 bad loans in the market already.
Bush is trying to keep his pals on Walstreet out of jail. Personally after G.W.Bush and Niel Bush bankrupted the Silverado Savings and Loan I don;t understand why people are suprized that banks are folding. Cottuption follows the Bush’s like lice on rats. You don’t really think Regean was the President? Daddy Bush ran that show Regean just whispered sweet nothing in the voters ears.
Posted by ( TnAndy ) on August 01, 2008 at 8:08 am
Fear not. At some point in the not-to-distant future, the govt will have printed enough Federal Reserve Notes ( though most of it is just digital )doing these massive bailouts that the rest of the world will quit lending us the 2+ billion a day we need to keep the party going, inflation will become rampant ( more than the 10% we now have ) and the game will end.
There has never been an fiat currency that has stood the test of time, and ours won’t either. Politicians ( and the bankers that own them ) simply can’t resist the lure of printing money if that power is given to them. Maybe next time around we can learn from that.....but I doubt it.
Posted by ( dadw5boys ) on August 01, 2008 at 12:15 pm
I agree TNANDY.
But look what happened last time they flooded the country with money. Clinton raised interest rates but eased up on the money supply and business took off. Then Bush is elected and before he even took office they were raising the prices to suck those extra dollars back out of the publics hands and at the same time Bush got Greenspan to lower interest rates.
Businesses did not take off, by businesses I mean those the produce a tangable product. The only thing that took off was the Finanical Sector that thrives off putting other people into debt.
I prefered the other way of encrouaging businesses that make stuff instead of the paper pusher reaping all the benifits. Some banks now will only make variable low interest loans with terms that can be rooled to fixed at a later date. I can’t belive property owners who have great credit can’t get a low fixed rate $30k loan without going thru a risky loan cycle to get a fixed loan.
Posted by ( rawbleedorange ) on August 01, 2008 at 5:54 pm
just how did clinton raise interest rates,,that is up to the federal reserve. don’t even try and tout clinton’s economic policies,,,if you do a lil research,,they were identical to bush sr. not even bush light.
you know i just thought about it ,,my lawn is turning brown,,,it’s W’s fault. come on dude the bush bashing is getting old. i should say the same ole, same ole. try giving us some response to what the blogs are about. but while i am wandering off the subject with ya,,how bout the liberal controlled congress refusing to help the american people out with this lil ole thang called high gas prices.
looks like pelosi and gang pulled a good one over on the dumb masses in the last election,,haven’t fullfilled not one campaign promise yet. in a few years with pelosi in charge gas prices have went up how much,,,,at least $2.25. great bunch of folks.
Posted by ( Chriss ) on August 04, 2008 at 12:22 pm
A little research would show a peson tht Clinton’s economic policies were far different than Bush Sr. or Bush jr. He raised the marginal rate, which by they way conservatives said would doom this nation, and lo and behold’ we had the greatest period of economic growth since the New Deal. There is an abundance of differences in the economic policies between Clinton and the Bush’s. There is also an abundance of differences in the results as well. Do we really to highlit these? As for Democrats and Oil prices, that is such a old worn out argument. What you should be askign yourslef is why the GOP controleld Congress and the Bush White House along with the Clinton White House did not push for drilling on the 60+ million of acreage already leased for drilling, which the Dept. of Energy says holds 4.8 BILION barrels of oil. I fail to understand the false logic of watning to drill in more areas when lands already opened to drilling sit idle. Please explain that....please.
As for the Loans debacle, it’s a double edged sword. Personal responsiblity plays a large role in this mess but also de-regulation. We seen what de-regulation brought us with the S&L;scandal in the 80’s and what de-regulation brought is now. Unfortunately you can’t allow corporate entities to run amok under the guise of the “free market”. There is ample evidence to prove this, as I’m sure you are aware.
Posted by ( Freedomman ) on August 05, 2008 at 7:28 am
Print...Print...Print that Paper Money. Print..Print..Print, and if you Print yourself to death, tell St. Peter at the Golden Gate--that he’ll just have to wait; until you Print another--- Fiat Note.
Posted by ( D.Hutch ) on August 05, 2008 at 3:03 pm
Hold your breath no longer, “W” bailed Fannie and Freddy out, He also bailed out the borrowers that made a bad choices when borrowing money from Banks and Loan institutions at a flexable rate. “W” also ,with the support of our congress and senate, has laid the burden of paying off those debts at the feet of our children and grandchildren. I guess they think the economy will turn around by the time our children and grandchildren reach maturity. They should have the war in Iraq paid off in the next oh! 50/60 years or so don’t you think? So they’ll need something else to spend their hard earned money on besides food, clothing, medical care ect.