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Bush says economic crisis not his fault

1 December 2008, 20:33 | Associated Press
Bush says economic crisis not his fault
U.S. President George W. Bush
WASHINGTON (AP) _ President George W. Bush has expressed regret the global financial crisis has cost jobs and shrinking retirement accounts and said he will support more government intervention if needed.

"I'm sorry it's happening, of course," Bush said in a wide-ranging interview with ABC's "World News." "Obviously I don't like the idea of people losing jobs, or being worried about their 401(k)s. On the other hand, the American people got to know that we will safeguard the system. I mean, we're in. And if we need to be in more, we will."

Bush said he felt responsible for the economic downturn because it is occurring on his watch, but added: "I think when the history of this period is written, people will realize a lot of the decisions that were made on Wall Street took place" before he became president.

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Northwesterner    (Guest) | 02.12.2008, 05:57
Greed and idiocy fueled the economic crisis. And Bus administration has ample supplies of each. Allowing highly leveraged loans built on the housing bubble, allowing financial industry to go unregulated, The list goes on. I agree that the Bush administration is disaster on many/most fronts.

But others around Europe, and the world \"drank the kool aid\" too. The US shares much of the blame, but the blame should be shared by the greedy financial community worldwide...
Who knows how long it will take to dig out of this? and how much it will cost? Trillions, for certain. And now our states in the usa are poised for bankruptcy....
New Yorker    (Guest) | 02.12.2008, 02:54
The crisis was totally the fault of the worst president in US history; George W. Bush, also known as \"Dumbshit\" and \"SmileClown\". This fool decided to create a policy of expensive energy and a weak dollar. This poisonous cocktail was forced down the throat of the American citizens, and we are nearly choked to death at this point. We expect Bush to stand trial for his crimes against the American people.
DavEd    (Guest) | 02.12.2008, 00:53
Bush was directly responsible for this current financial crisis. Banking lobbyist\'s (legal bribes) prevailed
upon the President to suspend banking regulations that hindered mortgage loans to non qualified home buyers. Bush will go down as the worst president in US history. Good riddance!
Guest    (Guest) | 01.12.2008, 23:56
So far, the total cost of the bailout for the USA financial system is estimated at about $7 trillion, or $7000 billion. Just the other week the Federal Reserve printed new money, about $800 billion, to cover another part of the system.

\"Hell\", if they can print that much just to bailout corrupt Wall Street bankers and avoid a depression, they can print a couple of $trillion and colonize the solar system. Just in the asteroid belt itself there\'s enough metals, minerals for a couple 100k years. And, since the new dollars would actually bring back real resources, especially since bringing it from outer space is cheap, no gravity, the amount of goods/services would increase exponentially. The era of scarcity would end. No need for world hunger etc... More than enough for everybody... Of course, no need for the rich either so it probably won\'t happen... Just a thought.
Yuriy    (Guest) | 02.12.2008, 17:06
the idea is a little crazy but I like it
Guest    (Guest) | 01.12.2008, 23:30
Government intervention means printing more money. Will we ever see the end of it?
Guest    (Guest) | 01.12.2008, 22:39
Once again... Bush thought wrong
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