Bush: This Isn't A Bailout

From our Commander-in-Chief this morning, speaking on the bailout, I mean assistance, for Fannie Mae and Freddie Mac:

"I don’t think it’s a bailout," said Bush, deflecting some criticism that the government should not rescue a private firm. "The shareholders still own the company."

So the government can throw all the money it wants at a company, but as long as the shareholders still own it- it’s not a bailout?

Share

Related Posts

  1. "Welcome to Bailout Nation" (March 24, 2008)
    Tagged , ,
  2. Roubini- Countrywide's Stealth Public Bailout (November 27, 2007)
    Tagged ,
  3. The Bailout Is Already In Progress (November 28, 2007)
    Tagged , in Federal Reserve

  4. Gross to President Bush, "Write Some Checks!" (August 23, 2007)
    Tagged in Federal Reserve

  5. President Bush- It Ain't Gonna Work (February 4, 2008)
    Tagged

Written by

More posts by:

6 Comments for this entry

  1. arizonaslim says:
    July 15, 2008 at 11:34 AM

    If it looks like a duck, walks like a duck, and quacks like a duck, then it’s a duck.

    Igor says: untrue.

  2. John M. says:
    July 15, 2008 at 12:29 PM

    twist -

    An old friend of you and Doom is on the case (and quoting Bert Ely to boot). She doesn’t sound amused.

    “Taxpayers on hook for mortgage rescue”, by Rachel Beck, Associated Press, July 15, 2008.

    We knew it could happen, even though they said it wouldn’t. The government is using our money again to haul private companies’ hindquarters out of the fire — this time it’s troubled mortgage giants Fannie Mae and Freddie Mac.

    It’s a plan with holes in it.

    It’s a plan that comes too late.

    It’s a plan that still insulates those leading those same poorly managed companies.

    Yet American taxpayers are on the hook for a mess that could undermine confidence in our financial system, depress the value of our currency and lead to higher inflation.

  3. AZSALUKI says:
    July 15, 2008 at 12:44 PM

    yeah…and bear stearns wasn’t a bailout either….and when the FDIC goes under i’m sure it won’t be a bailout either. start savin your dollars to literally burn because it will be cheaper to do than buying wood.

    ironically, igor says “deflate”

  4. brucewho says:
    July 15, 2008 at 1:47 PM

    One Company, One Nation under Glod. That’s where we’re headed. Obama will get the blame though.

  5. mortgagemess says:
    July 15, 2008 at 5:14 PM

    Just came back from Target where I purchased a pair of comfortable shoes..for when I have to stand in line to receive my rationing of bread, cheese and water…

  6. Jon H says:
    July 17, 2008 at 10:56 AM

    Ah, the product of a Harvard Business School education – doesn’t know the difference between a bailout and a buyout. Or isn’t embarrassed to act that way.

Comments are now closed.