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Economic Surprise

Posted by RickH · September 21st, 2008 · No Comments

Congressional leaders were recently “stunned” to learn that the United States was “literally maybe days away from a complete meltdown of our financial system.”

Why stunned?

Had they not read the reports circulating, at least as far back as 2002, about how George W. Bush did business?  When he was the Director of Caterair, “Caterair’s problems went from bad to worse to insoluble.” As things started to go south, he abandoned ship, but not before trying to “save” the company by extensive borrowing, essentially creating and selling junk bonds.  Did they not know that most of the businesses Bush had a hand in operating failed, with George W. Bush being one of the few people to make money off these failed operations?  Weren’t they aware of how George W. Bush, after running Arbusto and Spectrum 7 into the ground, sold shares in another company he helped run for $850,000, just before Harken announced a $23 million dollar loss?  (Is it a coincidence that, as mentioned in the Spectrum 7 story link, George Bush was in business with Enron and Ken Lay which later famously went into its own financial meltdown?)

Well, at least we’ll soon be rid of the Worst President in History.

Or will we? McCain apparently bought Greenspan’s book because “the issue of economics is not something I’ve understood as well as I should.”  Sarah Palin herself looks capable of out-bushing and out-cheneying anyone.

Obama says “the American people aren’t stupid.” I can only hope he’s right.

Categories: 2008 Presidential Election · Economy

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