George W. Bush = “shamelessly marketing”

George W. Bush personifies that dangerous combination of arrogance and ignorance. He led us into the Iraq War and sunk our economy during his 8 years in the White House. And then the man who let Osama bin Laden escape, who spent $1 Trillion making war in the wrong country, and who did not do a damn thing to regulate the Subprime-Mortgage Meltdown via Wall Street selling home loans as stocks…this man wrote a book about his decision-making process for the benefit of somebody else to read. Mind-numbing, the kind of arrogance and ignorance George W. Bush exudes.

* And don’t go trying to blame the financial mess on Barney Frank. George W. Bush’s Securities and Exchange Commission allowed “self-regulation” (meaning no regulation) by the Wall Street banks concerning the buying and selling of Subprime-Mortgage-backed Securities, which were sold all over the world. George W. Bush and the Republicans had a stranglehold on all 3 branches of our government from 2001-2006. The Republicans rammed Tax Cuts, the Iraq War and Medicare Drug Benefits through Congress without paying for any of it. Yeah, all true. Halliburton, the defense contracting company where Dick Cheney was CEO, especially liked the no-bid contracts worth billions of dollars during the Iraq War. The Conservative Calamity of the 2000s happened with the help of a Christian voting base feeding the greed and mismanagement that would ultimately lead to the worst economic downturn since the Great Depression.
Remember, the heyday of Subprime was 2004-2007. We, the People, voted in a Democratic-majority Congress in 2006, but they took office in January 2007. By then all of the financial mechanisms had been set in motion for the economic implosion just around the corner. The first foreboding shoe dropped in October 2007, when the Dow Jones Industrial Average started dropping from its high of 14,000. It eventually dropped below 9,000 after the Democratic-majority Congress rejected the $700 billion bailout of the Wall Street banks handed to them by Hank Paulson, Bush’s Treasury Secretary and Goldman Sachs CEO until 2006. The US stock market dropped 777 points that day, the biggest single day loss ever. Then the Democratic-majority Congress voted to approve the bailout of the US banks that caused the Subprime-Mortgage Meltdown. But the banks were supposed to L-E-N-D! The banks were supposed to take that money and grease the wheels of commercial paper with it, so that small businesses still had access to short-term loans in order to cover payroll expenses. But the Wall Street banks double-crossed the American Taxpayers…instead of lending the money, Wall Street paid bigger bonuses than the year before.
source: http://finance.yahoo.com/echarts?s=^DJI+Interactive#chart1:symbol=^dji;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined


Republican mismanagement of our economy caused the Great Recession. Bush even kept the expenses of our war in Iraq “off the books.” One of the first things President Obama did was to claim the true cost of the Iraq War as a part of our country’s budget. This added considerably to our national deficit, but for once in a long time we had a President being honest with us.

As Jonathan Franzen writes in his new fiction book, Freedom, the Bush years were about “high-tech lying and manipulation,” according to the character, Walter Berglund.

* page 313 of Freedom, published in 2010 by Farrar, Straus and Giroux, New York, NY


EXCERPTS:
“The truth of the matter is, I am shamelessly marketing,” the former president [George W. Bush] said when asked why he chose to appear on Facebook. “You got a lot of people paying attention to us, and I’m trying to sell books….
“It just comes with the territory. When you’re president, or when you’re a successful CEO, you get criticized,” he said. “The fundamental question is how you deal with it. And if you believe in what you’re doing, then the criticism means nothing.”
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