Look, I am not Bush's greatest fan, but I must admit the speech was good. It was a simple speech that allowed Joe and Jane American to finally grasp what is going on and how we got here.
Having said that, it is still debatable that that this current plan is a good one.
My biggest question with this bailout is where is this $700,000,000,000 coming from?(That is alot of zeros when you put it out like that...). We already owe China billions from the Economic Stimulus Disaster, so who is going to be next in line to buy an enormous piece of our country?
I think that he handled the speach well, and I'm not exactly a fan. As far as the $700 Billion, they're printing it....I hope they don't run out of ink.
Also, I am still trying to wrap my head around how all of this bail-out affects, us, the real estate investor. Is credit going to become easier to attain? Is the government going to gobble up all of the REOs out there? Just don't know.
I am a conservative and would normally be a supporter of the Republican. Having said that, I think President Bush may go down as the WORST PRESIDENT IN HISTORY! I thought his speech was AT BEST a 3rd grade description of the issue that insulted the intellegence of Americans and AT WORST filled with outright lies! HE, George Bush, PERSONALLY, is as responsible for this mess as anyone in the world. HIS ridiculous "homeownership" initiative is the direct cause of Freddie and Fannie buying all these bogus loans and therefore encouraging unqualified buyers to become homeowners. Although this "howeownership" nonsense actually started under Clinton, Bush used the homeownership nonsense to compete with Clinton's claimed creation of 20 million jobs.
I thought his speech was TERRIBLE and I think he is a TERRIBLE President! I'm furious that he is bailing out the wall street fatcats and sticking the public with the bill. I was worried about Obama moving the country toward socialism, but Bush has done more toward moving us to socialism than Obama ever could. In fact, at the present pace, there won't be anything left to socialize by the time the next president takes office! Shame on the president - he's a miserable failure!
Tell us how you really feel. Part of my thinking that the speech was well delivered was that it was elementary. I don't really think the average American knows what is going on.
I thought he explained the problem succinctly. However, many are now claiming that he is fear mongering in order to salvage an election for McCain and a bailout for his boys.
I will suspend my political views, but isn't it pretty likely that ALL American politicians are back-scratchers of epic proportions?
Ease up Mike. We're a long way from internment camps but I agree. We could use a true libertarian in there. The Feds are too big and now they've created a way to creatively seize private land.
As far as the $700 Billion, they're printing it....I hope they don't run out of ink.
Maybe we should invest in ink futures.
I am also in the conservative camp that dislikes Bush. I too would like to see a Libertarian. I think if enough people voted Libertarian maybe the other two parties would wake up and start to act responsibly.
On a more scary thought, Maybe we NEED a depression. People have become spoiled and all levels of society seem to have an unrealistic expectation of lifestyle. Everyone, businesses, Government and individuals are all living beyond their means. A serious depression or long term recession may be what it takes to bring everyone back to reality.