Bush: "I Abandoned Free Market Principles To Save The Free Market System (And Wall Street Bonuses)" - VIDEO

Friday Flashback - In just 15 seconds this clip perfectly encapsulates the madness of bailing out Wall Street millionaires and billionaires.

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Check out this Bush speech - Runs 1 minute.

Comments

[Gary]

What a mental midget,.... How were the people of this country so stupid to have voted this miscreant in office.

[TR]

DB, "Socialist madness", like that, comes in all forms but most only see one side of the coin (LEFT/RIGHT).

Will the sleepers ever awaken?

[Gary Anderson]

Hey guys, I am sympathetic with your position, however, do you know what will happen if 250 trillion of derivatives goes south? I mean, the criminal acts of Paulson and Geithner took place prior to the bailouts when they facilitated the shadow banks and allowed the spread of the CDO's. But one wonders if the failure to bail out the banks would create the mother of all depressions. Since I don't know the answer, does the daily bail?

I do however believe that in mid 2003, the CRA/ACORN thing went away and the big boys, the shadow unregulated banks, took over. That is where the massive CDO's and swaps were generated. And my article at BI and the chart shows this. It is all in the chart:

http://www.businessinsider.com/quigley-bis-prediction-came-true-clinton-knew-better-than-to-sign-glass-steagall-2010-11

[TR]

@Gary Anderson, 250 trillion of derivatives. I've seem a lot of different values placed on derivatives. My estimate is that it's a "WHOLE BUNCH". There is no problem, Timmy & Bennie told me they can print enough to cover it. I guess the rest of the world can sleep soundly. I think I need a mental evaluation.

[Gary Anderson]

Lol TR, that is the issue isn't it? If someone really, really knows whether failure to bail will mean massive economic failure for main street it would be great if they would stop by.

[Howard T. Lewis III]

Recolonization by the Yerps, beach heads established by the Bush clan, and financial exploitation facilitated by the sheeple, who will be left with that which will have to be provided, or return to no farm. That shoulder shrug and smirk by Bush43 is that of a guilty punk.

[Jesse]

Bush already abandoned any principled for a free market which he might have had (which I disagree with) when he expanded subsidies for the RE credit markets.

http://www.wtffinance.com/2011/04/why-did-the-housing-market-crash/