[Rhodes22-list] Bush Speech and warnings and whisker pole post script

[Andrew Collins]

rad

As Tootle pointedly pointed out the current administration warned about all
this repeatedly over the last 5 years ... but now we are all on the verge of
becoming pinko Commie socialists when Hank P rams the ultimately $1.3
Billion baleout down ... or, um, up ... well you know. I can't wait to buy
the papers tomorrow.

Andrew
Fallow Traveller on s/v Carmen

PS With all this talk of whisker poles that clean the cabin carpeting, I
think I's going to get me one and try it out in the gales of October. Yeah I
know it's supposed to be gales of November but I have to haul her by
Halloween.

On Wed, Sep 24, 2008 at 9:45 PM, Brad Haslett <flybrad at gmail.com> wrote:

> I truly hope SOMETHING gets passed so the loan on the house I'm
> selling closes on schedule next week (Tip O'neil said it best - all
> politics is local).  Here's one summary of the Presidents speech.
> Brad
>
> ---------------
>
> Bush: Congress Must Act to Save Stupid People
>
> Posted By Scott Ott On September 24, 2008 @ 10:41 am In Business, U.S. News
> |
>
> (2008-09-24) — The foundation of the U.S. economy could crumble,
> President George Bush said today, if Congress fails to approve a U.S.
> Treasury plan to take over foundering financial firms, a proposal
> which the president called "a much-needed 21st-century civil rights
> act for stupid people."
>
> "To sustain this shining city on a hill," Mr. Bush said, "we need to
> rescue the ignorant, irresponsible folks — from Wall Street to Capitol
> Hill to Main Street — who got us to where we are today. We must
> guarantee that no American suffers the soft bigotry of being forced to
> live with the consequences of his bad decisions."
>
> The president, in remarks to the news media clearly aimed at reluctant
> Republicans in Congress, said, "Our financial system rests on a
> foundation of huge banks, brokerage houses and quasi-governmental
> agencies that followed Washington's lead by gambling on long-shot,
> poorly-collateralized investments. Now this glorious way of life is
> threatened, and we must act to preserve it."
>
> "We need to guarantee that the structures, systems, people and
> products that got us to this point won't be tossed on the ash heap of
> history," said Mr. Bush. "If these giant companies fail, then America
> will be left with nothing but thousands of small to mid-sized
> financial firms that made prudent investment decisions during the past
> 15 years."
>
> The president added that, "Americans value the liberty they have to
> buy homes they can't afford, to invest in securities backed by nothing
> but hope, and to draw six- and seven-figure salaries based on the
> courage to risk taxpayer dollars on deals that even the dealmakers
> don't understand."
>
> "It is a moral imperative that we guard the civil rights of these
> idiots," he said. "If we fail, then we face the specter of free market
> capitalism run amok, and millions of Americans will feel the painful
> lash of personal responsibility across their backs."
>
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