President POS says He Won't Be Forced into 'Bad Decisions' on Economy

[marmar]

from Bloomberg:



Bush Won't Be Forced Into `Bad Decisions' on Economy (Update1)

By Roger Runningen

March 15 (Bloomberg) -- President George W. Bush, under fire from Democrats who say he's doing too little to help homeowners facing foreclosure, said he won't be stampeded into ``bad policy decisions'' that might harm the economy.

``The market now is in the process of correcting itself, and delaying that correction would only prolong the problem,'' he said today in his weekly radio address. ``I believe the government can take sensible, focused action to help responsible homeowners weather this rough patch.''

Bush's remarks echoed a speech yesterday, when he said the economy is going through a ``tough time'' and that the Federal Reserve and the Treasury Department will take ``appropriate steps'' to stabilize the financial system after a bailout of Bear Stearns Cos., the fifth-largest U.S. securities firm.

Bush is scheduled to meet March 17 with his Working Group on Financial Markets, the nation's top financial regulators that include Fed Chairman Ben Bernanke, Treasury Secretary Henry Paulson and the heads of the Securities and Exchange Commission and Commodity Futures Trading Commission.

Bush said today he opposes a congressional plan that would give bankruptcy judges powers to reduce mortgage debts by decree, because banks would charge higher interest rates to cover the risk. Another proposal would have the government buy homes and take them off the market, leading to artificially higher prices than justified by the market, he said.

``If we were to pursue some of the sweeping government solutions that we hear about in Washington, we would make a complicated problem even worse -- and end up hurting far more homeowners than we help,'' Bush said. ......(more)

The complete piece is at: http://www.bloomberg.com/apps/news?pid=20601087&sid=aSswgBrkDIfA&refer=home

[niyad]

1. doesn't need to be forced, he makes them on purpose.

[KansDem]

3. Beat me to it!

Bush, "I don't want to be forced to make bad decisions. I just do them naturally!"

[dchill]

2. He has never been "forced" into bad decisions.

He is, after all, the Decider.

[lligrd]

4. Like He Was On Iraq, Katrina And Everything Else He Has

decided on? It would be a nice change if he didn't make a bad decision but I won't count on it.

[Earth_First]

5. Of course not, his bad timing is our demise while his base makes millions short selling the collapse

[annabanana]

6. He wouldn't know a GOOD decision

if it bit him in the ass

[jimshoes]

7. Hell, it comes naturally to him

no need to force anything.

[TheCowsCameHome]

8. He is the ultimate bad decision.

Please George, don't touch anything.

[tularetom]

9. That is really from the Onion right?

It's gettin so ya can't tell anymore.

[Captain Hilts]

10. Whew! THAT's a relief! nt

[Fire Walk With Me]

11. Iraq is also in the process of correcting itself, thank God.

What a mess it would be otherwise. :/

[Orsino]

12. We've never had to force him to make a bad decision.

He's the Bad Decider.

[ThomWV]

13. Interesting. Has he actually ever made a decision concering the economy?

It was the Congress that gave us the disasterous tax policy he signed into law, it is the congress that has allowed him to pour hundres of billions of dollars into Iraq. Just what economic decision has he ever made? He has fucked up everything he has touched, but in this case it was his inattention, not a bad decision, that seems to be at fault.

[taught_me_patience]

14. I hate this *hole

but I think he's right on this one. The government should not be in the business of bailing out debtors. It should also not be in the business of bailing out banks, but I'm sure chucklenuts will find a way to bail out his wall street buddies.

[Hydra]

15. He says he will do nothing rash

While the Fed gives handouts left and right for his buddies.

As usual, his base is the top 1%...and they don't care how much of our world they have to wreck to make a profit.

[opihimoimoi]

16. This from a dude who never got it right once yet....he keeps missing those short 2 feet putts...

No wonder no one believes him anymore...

He has used uo the FEAR CARD

The WORRY CARD

The National Security Card

The No Child Left Behind Card

And the Nation is doing right fine Card

There nothing left ept more BS which will fall on deaf ears...

Bush has cried Fear once too often...

[gulliver]

17. Bush "forced" into a bad decision. That's a riot.

He either forces his bad decisions on others or sleeps at the switch while they scream for him to do something. Bush has two decision modes, both bad.

[undeterred]

18. I AM SO SICK OF PEOPLE WHO BELIEVE IN THE FAIRY TALE MARKET!

Like its some kind of organism. Give me a break!