George W. Bush - No Regrets On 700 billion dollar Bailout

Obama has spent more than Bush but both are to blame. The point everyone seems to fail to see is the sovereign debt failure that is looming. Plus the fact that home prices have not reached the bottom they need to reach as the govt is propping them up just delaying the inevitability.

You all need to read up on Japan and their "lost decade". It's very simple, we can do nothing or we can spend money to bail people out. Do nothing, and nothing happens.

Both Bush and Obama have bailed out billions of dollars. It's really the only thing they can do.

Bush created 7 Trillion in debt over the 8 years. Plus he 'hid' a lot of debt which which was discovered when Obama got in. Small government my ass.

Also Bush gave billions up in tax cuts to the rich, how's that "trickle down economics" working with the 10% unemployment?

You learned all you need to know about Bush in his interview with Matt Lauer when he said the thing that upset him the most and hurt him the most during his presidency was when Kanye West branded him as a racist by saying on TV that he didn't care about black people. So we have 3,000+ die on 9/11 and we have lost thousands more since in the wars in Iraq and Afghanistan. He was at the helm of the country when the economy collapsed and spiraled into the ground. Not to mention the tragedy of hurricane Katrina and his party being thrown out of power in 2006 and the thing that bother him most was that Kanye West thought he was a racist.

he will go down in history as one of the greatest presidents

Being the president, you are not going to make everyone happy, Bush has made mistakes and so has Obama, blaming everyone is not the answer, it's what are we going to do now?

I wonder how things would have turned out if they had succeeded in privatizing social security. Can you imagine the carnage when the market crashed?

A good read for anyone that still reads books...



ADG

If the banks had not been bailed out they would of collapsed.

WITH ALL YOUR MONEY IN THEM.

Maybe the Government would of repaid everyone which would of amounted to a bail out or they would of not and a depression like the 30s would of occurred. It took WW2 to get the World out of that hole.

So he had no option, he had to bail them out like other Governments did.

The problem was in the way banks and the stock exchanges were being monitored. This was a problem in a lot of countries as they all thought something could be got out of nothing.

Add to that the worsening balance of payments with China and the whole thing was a disaster waiting to happen. Again and again.

And again.

Yes but you are forgetting one small detail. Once the ball started rolling do you really think obama could have said "fuck that, no more bailouts" - could not have happened. once the bailout crap was initiated that was it.

Not defending obama here either, but it does help to see the position he was put in.
would obama have done the same thing? maybe, but regardless he was left holding the bag on the biggest economic fiasco in U.S. history.

Also, Markham I don't think so. If there was no bailout many banks would have survived just fine and many of the sketchy corps like AIG might have bitten the dust but that's a GOOD thing. They're a bunch of rotten thieves.

The country and possibly many world economies would have taken a huge hit at first, but by now we would TRULY be emerging from the depression, not straddling some vague line between stability and chaos.
And probably with a greater code of ethics for conducting business to prevent this shit from happening again.