Bush: 'Lot of work to do' before leaving office

Discussion in 'Economics' started by mgookin, Oct 12, 2008.

  1. Holy CRAP! Hasn't he stolen enough already? Needs to do MORE damage between now and January?
  2. He's done a lot of "hard work" over the last 8 years. 6 with a Republican Congress, and 2 with a Democrat one.

    United Socialist-state of America.

    The Bush legacy.
  3. Some of this is a little unfair to Bush, since the large deregulation of securities happened in 1995 with Clinton and Bernanke - but there is no doubt that Bush deepened and speeded up the process of this resulting in a crisis - and I think we can attribute this to accelerating greed.

    Especially the Bush housing program worsened the problem very fast and resulted in the subprime meltdown.
  4. Please explain, "Bush housing program"... wasn't the Affirmative Action Loan program initiated before he took office?
  5. Bernanke did not take office until 2006. Did you mean to say Greenspan?
  6. I think most Americans would be fine with Bush spending the next 100 days at his ranch in East Bumblef***, TX and phoning it in until his last day in office. He has done enough "work" already for the next president to spend years undoing.

    Only 97 DAYS 10 Hrs 21 Min left to go (but who's counting anyway?)
  7. Hehe, yes - I slipped there - it was Greenspan of course. :)
  8. Truff


    Whats that saying? "Just pack your s--t and get the f--k out"
  9. The Bush administration declared June 2003 to be National Home Ownership Month.

    "By a significant margin, minority families are less likely to own their own homes..." The goal Bush had explained 12 months earlier to the Department of Housing & Urban Development (HUD), "is everybody who wants to own a home has got a shot at doing so."

    "The problem is...three-quarters of Anglos own their homes, and yet less than 50% of African Americans and Hispanics own homes. That ownership gap signals that something might be wrong in the land of plenty. And we need to do something about it."

    Those were the words of Bush - and hence the credit acceleration and spending which resulted in the subprime meltdown with the housing crisis.

    On the other hand "easy money" had been a problem since after the Cold War more or less. Low profits, low interest rates and low growth was then turned to strong growth through the Clinton years where the financial markets "exploded" with Greenspan's blessings and guidance.
    #10     Oct 14, 2008