THE PANIC (?) OF '08

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WHAT A COINCIDENCE: REPUBLICANS THREATEN TO CAUSE YET ANOTHER ONE OF THEIR "GREAT DEPRESSIONS;" IN AN ELECTION YEAR; UNLESS WE RE-ELECT THEM; HUNH?

ARE YA SCARED AMERICA? ARE YA SCARED? NO? WELL, THEY'LL HAVE TO KEEP TRYING, THEN.



OK, Here's The Deal: We, The Republicans, Screwed Up The Economy So F*cking Bad That It Is Now Going Into Hopeless Meltdown. Unless You Leave Us in Charge, Our Banker Friends Will Take Your House, Your Car, Your Job, And Your Spouse's Fine Young Ass. So, How' Bout it? We Stay In Charge, Yeah? Yeah? NO???!!! OK, John, Sarah, Grab Their Kids!

It's the biggest hold-up since Jesse James. The crooks who engineered this crisis in their own wallets are now giving us a choice: Give them all our hard-earned tax money to make up for what they lost of our savings when they went gambling with it on Wall Street: Or else they'll take everything we have left, and destroy the remainder of the economy. Sounds like terrorism to me.

It's time to Gitmo Bushco. And put McSame and his pet barracuda in there with them. And those CEO's that started this fire.


USA TODAY
"Bailout: Full text of Bush's address about economy"

' Over the past few weeks, many Americans have felt anxiety about their finances and their future. I understand their worry and their frustration. We've seen triple-digit swings in the stock market. Major financial institutions have teetered on the edge of collapse, and some have failed. As uncertainty has grown, many banks have restricted lending, credit markets have frozen, and families and businesses have found it harder to borrow money. We're in the midst of a serious financial crisis, and the federal government is responding with decisive action. '

NY TIMES
"Bush and Candidates to Meet on Bailout "

' Mr. Bush used a prime-time address to warn Americans that “a long and painful recession” could occur if Congress does not act quickly. “Our entire economy is in danger,” he said. The speech came after the White House, under pressure from Republican lawmakers, opened an aggressive effort to portray the financial rescue package as crucial not just to stabilize Wall Street but to protect the livelihoods of all Americans. But the White House gave careful thought to the timing; aides to Mr. Bush said they did not want to appear to have the president forcing a solution on Congress. '

ROLL CALL
"Bush Urges Action on Bailout Plan"

' President Bush tonight used the highest bully pulpit he has – a primetime address from the White House – to salvage his plan to provide a $700 billion bailout to buy up bad mortgages from banks, suggesting Congress and the American people must agree to it or witness crippling damage to the economy. '

USA TODAY
"Bush: 'Entire economy' at risk"

' "Our entire economy is in danger," Bush said in a high-stakes address. "Without immediate action by Congress, America could slip into a financial panic. … More banks could fail, including some in your community." The president warned that inaction could cause millions of layoffs, bank failures, business closures, lost retirement savings, more foreclosures, a further drying up of credit and "a long and painful recession." He added: "We must not let this happen." '

MYFINANCES.com
"Bush warns of “financial panic”"

' "More banks could fail, including some in your community. The stock market would drop even more, which would reduce the value of your retirement account. The value of your home could plummet. Foreclosures would rise dramatically... and ultimately, our country could experience a long and painful recession." '

THE BUFFALO NEWS
"Bush warns of a ‘painful recession’"

' President Bush on Wednesday warned Americans and lawmakers reluctant to pass a $700 billion financial rescue plan that failing to act quickly risks wiping out retirement savings, an increase in foreclosures, lost jobs, closed businesses and even “a long and painful recession.” His dire warning came not long after the president issued extraordinary invitations to presidential candidates Barack Obama and John McCain, one of whom will inherit the mess in four months, as well as key congressional leaders to a White House meeting today to work on a compromise. “Without immediate action by Congress, America could slip into a financial panic, and a distressing scenario would unfold,” Bush said in a 12-minute prime-time address from the White House East Room that he hoped would help rescue his tough-sell bailout package. '

EURONEWS.NET
' Bush warns the entire US economy is “in danger” '

' Speaking in a televised address, George W. Bush warned the entire US economy was in danger and urged Americans to support the bail-out: “There has been a widespread loss of confidence, and major sectors of America’s financial system are at risk of shutting down. The government’s top economic experts warn that, without immediate action by Congress, America could slip into a financial panic. It is difficult to pass a bill that commits so much of the taxpayers’ hard-earned money. But given the situation we are facing, not passing a bill now would cost these Americans much more later.” '

CANBERRA TIMES
"Bush warns of long recession"

' "At this point, there are real doubts about the president's ability to be seen as a trusted and credible source on the economy by the American public," a conservative Republican congressional aide told AFP on condition of anonymity. But public remarks from all sides suggested that Bush could count on a consensus that inaction could trigger a global financial meltdown. '

TORONTO STAR
"Bush warns of 'painful recession' if bailout rejected"

' George W. Bush told Americans tonight the country could slip into full-blown economic panic without immediate passage of a rescue package, capping a day in which the U.S. financial crisis threw the presidential election campaign into chaos. Bush also said millions of American jobs could be lost, with credit choked off for those who remained standing amid the carnage. "Our entire economy is in danger,'' he said, looking stiffly at the teleprompter as if he was afraid to miss a line. "Ultimately, our country could experience a long and painful recession.'' '

RICHMOND TIMES DISPATCH
"Bush warns 'entire economy' in danger"

' President Bush warned Americans and lawmakers reluctant to pass a $700 billion financial-rescue plan that "our entire economy is in danger." Warning that "America could slip into a financial panic," Bush blamed the crisis on "easy credit" in the housing markets and urged Congress to act soon because the "widespread loss of confidence" in the financial sector could affect all levels of the domestic economy and cause the nation to "experience a long and painful recession." "Given the situation we are facing, not passing a bill now would cost these Americans much more later," he said, warning of job losses ranging in the millions. '

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