Bush: "I've abandoned free-market principles to save the free-market system"

[jeffrey]

US President George W. Bush said in an interview Tuesday he was forced to sacrifice free market principles to save the economy from "collapse."

"I've abandoned free-market principles to save the free-market system," Bush told CNN television, saying he had made the decision "to make sure the economy doesn't collapse."

Bush's comments reflect an extraordinary departure from his longtime advocacy for an unfettered free market, as his administration has orchestrated unprecedented government intervention in the face of a dire financial crisis...

Bush says sacrificed free-market principles to save economy - Yahoo! News

[sweeps]

Hahaha

[jIM_Ohio]

A pure free market would have survived a collapse. The problem is too many lower income people expect a handout to get by, and they put a HUGE drag on any free market principle (IMO).

[terry1156]

Come on - you're going to blame the collapse of the banking industry on low income people? It was pure greed on the banker's part. Nobody forced them to give loans to anyone.

[jIM_Ohio]

Originally Posted by terry1156

Come on - you're going to blame the collapse of the banking industry on low income people? It was pure greed on the banker's part. Nobody forced them to give loans to anyone.

I am blaming low income people for being a drag on taxpayer and political resource.

We spend so much time negotiating a handout we don't tackle real problems like roads and bridges, regulation or a social security/medicare system going bankrupt.

[cptacek]

Bush has completely gone off his rocker. As I heard on a radio show yesterday, if he tried to turn that logic in in a paper in a high school economics class he would get an F.

[tripods68]

He at least admitted to becoming a LIBERAL Democrat! LOL!

[ceejay74]

IMO, corporate welfare weakened the capitalist structure long ago, because how could you say the best companies and minds were on top when they resorted to cronyism and lobbying to stay there? I'm not surprised the companies are run by corrupt, greedy dunderheads whose short-sightedness and dishonesty caused them to keep laundering bad assets as good until it caught up with them.

Again, just IMO, that's how it seems to shake out to me (though I should warn you I'm not the brightest business mind either... , so don't tear me apart too harshly!).

[wincrasher]

Funny how when everyone makes money, they get on magazine covers and are "brilliant". Things go sour and they are idiots.

The boys from Enron were considered geniuses, remember?