Mar 14th, 2009 at 12:18 pm
Leave George W. Bush Aloooooone
The country is in a terrible situation in economic, strategic, and budgetary terms and it’s overwhelmingly the fault of the team that was running the show before January 20th. Naturally, the team that’s been running the show since January 20th wants people to understand the baseline conditions against which they should be judged. The Washington Post is mightily displeased. Apparently we’re just supposed to pretend that this all happened by coincidence.
87 Responses to “Leave George W. Bush Aloooooone”
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March 14th, 2009 at 12:21 pm
The administration is just pushing back against smears from the right. If the right stopped trying to pin the economic mess on a president in power less than 50 days, the pushback would stop.
March 14th, 2009 at 12:31 pm
During the relatively mild recession that happened in the beginning of his first term, Shrub repeatedly pointed out that the various stock market indexes had peaked before he took office, clearly laying the blame on the prior administration. Did the WaPo take GWB to task for this?
I thought not. But times change. And so do standards. Especially, it seems, when Democrats are in the WH.
March 14th, 2009 at 12:41 pm
You are right we should leave Bush alone.
If you believe in the Efficient Market Hypothesis than Bush shouldn’t be blamed for the economic crisis of 2008. Obama’s victory was expected (at an increasing likelihood) since he overtook Hilary in February (2008). Therefore, the market simply responded to this new and worrying information. Once Obama’s presidency became a certainty (in September after the Palin fiasco) investors and business had no choice but to change their behaviour. This fear of higher taxes and unionism lead us to our current poor economic state.
March 14th, 2009 at 12:53 pm
That has got to be the dumbest thing that I have ever heard coming out of the mouth of a troll. Good one gekko, you’re an idiot
March 14th, 2009 at 12:53 pm
If you believe in the Efficient Market Hypothesis
That’s where I stopped reading.
Even if you did believe in the efficient market hypothesis, you’d accept that the markets were pricing in the reality of present and future falling earnings due to lower employment, less consumer spending, and damaged investments.
I’ve actually noticed from right-wingers that their solution to the falling stock market is “clap harder” rather than “create conditions that improve economic fundamentals.”
March 14th, 2009 at 12:53 pm
so tell us, matthew: you know a lot of people in washington by now, presumably including some from the wapo. do you shun them? do you tell them that they are working for a publication that manipulates editorial in the service of entrenched right-wing interess? do you advise them that the wapo – 30 years ago the most-respected name in journalism – has destroyed its franchise value through this kind of ongoing disrespect for honest reporting?
March 14th, 2009 at 1:07 pm
gordon gekko’s diagnosis is right on. Why can’t you people see that the promise of renewing America’s potential is ruining America?!?
March 14th, 2009 at 1:08 pm
I agree — the rest of the Washington Post has become as much a pack of self-hating whores as Robert Samuelson has always been. They don’t even try to main a pretense anymore.
It was the Washington Post that was covering up and enabling Bush’s actions during his administration. Starting with turning a blind eye to George stealing $3 Trillion from Social Security to pay for his $2 Trillion tax cut –so that the Superrich could create jobs in China.
Followed by unquestioning dissemination of Bush’s claim that Sept 11 occurred because “they hate our freedom”. Everytime Cheney ejaculated, the Washington Post swallowed.
Anybody remember them warning the electorate about derivatives back in 2004?
March 14th, 2009 at 1:12 pm
As I noted recently elsewhere (“More Obama Supporter’s Concerned by the President’s Recent Actions”), Warren Buffett also thinks such finger-pointing is, well, pointless. As the Oracle said on CNBC last Monday,
March 14th, 2009 at 1:12 pm
Tyro,
Yah using EMH to blame Obama for economic performance prior to actually taking office was obviously a self-parody at how conservatives normally behave. It is theoretically possible, which makes it appealing to the Rush-types, but is clearly incorrect. The fact that gb got so offended suggests it may have a future on talk radio similar to that of blaming the poor for the housing crisis.
March 14th, 2009 at 1:16 pm
The former Prime Minister of Australia, Paul Keating, apparently rejects Buffett’s criticism of finger-pointing. As I also noted recently, Keating blames the current financial crisis on the bad medicine Tim Geithner prescribed during the Asian financial crisis.
March 14th, 2009 at 1:21 pm
Basically it’s all Bill Clinton’s fault. That and the Community Reinvestment Act.
March 14th, 2009 at 1:23 pm
Gordon: Comedy gold!
March 14th, 2009 at 1:23 pm
Reading the first graf of the Posty prop was enough for me. Interestingly, the Post is at least mathematically consistent. One of their favorite editorial themes is that social security is going bankrupt. Now they are applying the same arithmatic to presidents. When Bush was at 35 percent, the Post pushed his policies on things like Iraq and Iran and (of course, their big moneymaker) No Child Left Behind. Kaplan Testing, of course, relies on No Child Left Behind, and the Washington Post relies on Kaplan testing. Now, with the huge drop in popularity of Obama – all the way down to a 60 percent approval rating – he’s practically the most unpopular president in American history! Thus, the desperate flailing – oh, he may achieve 65 percent again, but as we know and as the Post knows, he won’t get that all important, that solely important Republican constituency!
The oddity of the Post is that here this paper is, right-center to be kind (it is really not so much right as hooked into thirty years of rightwing powermakers in D.C.), isolated in one of the most leftleaning democratic parts of the country. It is a sign of the anemia of the news biz that no competition has emerged. That is because, I think, the gated community it serves is pleased with the paper. And funding would have to come from that gated community if another paper, one which wouldn’t please the gated community, were to arise. Why would anybody want to midwife that? And so they go their merry way.
I say, fuck em. Pull the plug on the testing biz, and watch the Post disappear. Although of course that is just a political wet dream – Graham’s dysfunctional newspaper will be propped up because it is necessary. The elite want their facebook every day.
March 14th, 2009 at 1:34 pm
Re Hackensack at 9: “Warren Buffett also thinks such finger-pointing is, well, pointless.”
—————
Given that Warren owns a big chuck of Moodys — the RATING service that ENABLED so much of this fraud, I can certainly see why Warren wants to move on.
March 14th, 2009 at 1:36 pm
I myself think a lot of investors out there have a legal basis to SUE ole Warren for a godzillion amount of dollars over all those “AAA” rated securities.
I’m also starting to get a lurking suspicion re why Warren and some other wealthy men gave Obama about $700 Million in the last Presidential horse race.
March 14th, 2009 at 1:39 pm
“Given that Warren owns a big chuck of Moodys — the RATING service that ENABLED so much of this fraud, I can certainly see why Warren wants to move on.”
Touché, Don Williams. Mr. Buffett does deserve some blame for that. Though he has paid a financial price for it, as his Moody’s stock has taken a justified beating over the last couple of years.
March 14th, 2009 at 1:39 pm
See http://tpmcafe.talkingpointsmemo.com/talk/blogs/socraticgadfly/2008/12/moodys-sp-pay-for-ratings-and.php
March 14th, 2009 at 1:53 pm
I absolutely love it how no conservative blogger with audience of moderate size and IQ > 100 has comments enabled! Mankiw! Sullivan! Douthat! Luskin! Either they are deathly afraid of allowing questioning of their arguments on their own blog or else their arguments are so inane, anti-intellectual and inflammatory that the majority of comments are in kind! You’d think they’d at least enable moderation so they could pick the few supportive comments they receive and show those, though maybe they number so few in comparison as to render the task fruitless.
March 14th, 2009 at 1:57 pm
Note that I mean audience of IQ > 100, not blogger of IQ > 100.
March 14th, 2009 at 2:12 pm
I love that Gordon Gekko (who apparently hero worships and emulates the asshole from Wall Street the movie) believes this bullshit. Did you get rich shorting the financials back during the primary? You spend a great deal of time here, is it because you made so much with your intuition and market acumen about the relationship to the executive and the Dow or is it maybe more likely you are an unemployed idiot who listens to to much talk radio?
March 14th, 2009 at 2:14 pm
The author of the right wing enabling propaganda was Scott Wilson.
As much as the piece (POS) is a deep discredit to the venerable Washington Post in general, it’s important to keep track of the individual writers that write such nonsense.
As Steve Benen noted, “The point of articles like these seems to be freeing Bush of accountability and responsibility for his devastating failures.”
It would be one thing if Scott Wilson’s fluffing of Republican talking points was on Fred Hiatt’s right wing editorial page, but that he weaseled it into the regular paper is very disappointing.
Maybe the hit piece was Scott Wilson’s application to join the Politico.com/Drudge/WSJ/Corner.
March 14th, 2009 at 2:16 pm
Poor gordon gekko, should have included a “j/k”.
March 14th, 2009 at 3:03 pm
While a plaintive cry of ‘it’s all Bush’s fault’ has much more truthiness than those made by the right over the last several years that ‘it’s all Clinton’s fault’, if the Obama administration is still going to this well by the time the 2012 campaign season rolls around, they’re going be on the Bush 1 / Jimmy Carter side of history rather than the Clinton / Reagan.
March 14th, 2009 at 3:27 pm
don, fun’s fun, but buffet was a passive investor in moody’s: he bought his stake years ago, doesn’t sit on the board, and isn’t active in its operations, so no, no one would have any frickin’ standing in any court ever imagined in this great land to hold warren buffett responsible for damages.
more seriously, it’s worth differentiating between “finger-pointing” (”this mess would never have happened if george bush hadn’t been president”) and statement of fact (”this economy was tanking when i took office”).
March 14th, 2009 at 3:28 pm
Obama administration is still going to this well by the time the 2012 campaign season rolls around, they’re going be on the Bush 1 / Jimmy Carter side of history rather than the Clinton / Reagan.
Kolohe,
Wow! How did you come to that conclusion? Do you have a crystal ball or something?
March 14th, 2009 at 3:32 pm
As the kids say, I got mad skilz
March 14th, 2009 at 3:37 pm
I agree that blaming Bush for our troubles, while accurate, will not necessarily be helpful for Obama and the Democrats in the upcoming 2010 and 2012 elections. What will be helpful, however, will be pointing out that their Republican opponents offer nothing new from the failed policies of the Bush era. If the GOP doesn’t radically change their message (and three guess how likely GOP leader Limbaugh will allow that), it won’t hurt the Democrats too much, even if the economy has shown minimal or even no improvement.
Can’t beat something with nothing; can’t beat nothing with something of negative value.
March 14th, 2009 at 3:37 pm
So what you’re saying, Kolohe, is that it is ridiculous to raise this point at this time, and will remain so for another 2-1/2 years.
I agree.
March 14th, 2009 at 4:45 pm
God what a bunch of partisan twits. If you’re going to blame Bush for the housing crisis you’re also going to have to give him credit for a 14,000 Dow after the .com bubble burst on Clinton’s watch.
March 14th, 2009 at 5:00 pm
Buffett was a passive investor in Moody’s, but with Berkshire holding a 20% stake, he could have been a more active investor, and used his influence to question the company’s underwriting process. He didn’t, but much of the fault here lies with the government for enabling Moody’s and Co. by creating a de facto ratings oligopoly (that Moody’s was part of a small oligopoly, and was consequently raking in oligopoly profits, is one of the reasons why Buffett invested in the company in the first place). Had the government given the NRSRO designation to more firms, it’s possible that a smaller ratings firm such as Egan-Jones might have shaken up the status quo. It’s also possible that a consortium of institutional investors might have pooled their funds to create their own rating agency, if there had been a chance of it getting the NRSRO designation, and such a buy-side funded agency could have provided more accurate and objective ratings than the big NRSROs did.
March 14th, 2009 at 5:16 pm
In late 2006, as economists warned of an imminent housing market collapse, housing Secretary Alphonso Jackson repeatedly insisted that the mounting wave of mortgage failures was a short-term “correction.”
He pushed for legislation that would make it easier for federally backed lenders to make mortgage loans to risky borrowers who put less money down. He issued a rule that was criticized by law enforcement authorities because it could increase the difficulty of detecting and proving mortgage fraud. [...]
[Critics] contend that Jackson ignored warnings from within his agency, the Department of Housing and Urban Development, whose inspector general told Congress that some of the secretary’s efforts were “ill-advised policy” and likely to put more families at risk of losing their homes.
That was from April 2008 back when you were probably in full agreement that the fundamentals of the economy were sound.
March 14th, 2009 at 7:21 pm
I didn’t think the economy was economically sound in 2006, by 2008 I was merely surprised that it took so long for the housing bubble to burst.
March 14th, 2009 at 7:30 pm
Re shooter242 at 32: “God what a bunch of partisan twits. If you’re going to blame Bush for the housing crisis you’re also going to have to give him credit for a 14,000 Dow after the .com bubble burst on Clinton’s watch.”
————–
Well, ANYONE who charges $6 Trillion of the taxpayers money on the national credit card and blows it like a drunken sailor can give the ILLUSION of prosperity for a while. Including a 14,000 Dow. But the music stops eventually and everyone realizes then that very little of that $6 Trillion was invested.
A good argument can be made that the American electorate shouldn’t just criticize/blame the Republican Party for this disaster — but that it should also hang a few Republicans from the fucking lampposts.
March 14th, 2009 at 7:53 pm
If you’re going to blame Bush for the housing crisis you’re also going to have to give him credit for a 14,000 Dow after the .com bubble burst on Clinton’s watch.
…and for the subsequent collapse back down to 7000 or so.
Yep. Your point?
March 15th, 2009 at 1:07 am
In fact, Reagan in 1984, campaigning against Mondale, was still blaming Carter for the economic problems of the early 1980s
I was around 10 so I don’t remember it all that well. I do recall the ‘morning in america’ theme, and the rhetorical question ‘are you better off today than you were 4 years ago?’ But not so much outright negativism (esp compared to say ‘88)
Obama will likely do (and will be able to do) the same thing. It’s a subtle distinction between ‘things are messed up because of the other side was in charge’ and ‘things will be messed up like they were in 2008/1980/1932 *if you put the other side back in charge*’ The latter resonates but the former is whiny.
March 15th, 2009 at 8:16 am
Obama will likely do (and will be able to do) the same thing. It’s a subtle distinction between ‘things are messed up because of the other side was in charge’ and ‘things will be messed up like they were in 2008/1980/1932 *if you put the other side back in charge*’ The latter resonates but the former is whiny.
No, Obama is saying the economy will take time to recover. He’s being realistic.
March 15th, 2009 at 9:59 am
or is it maybe more likely you are an unemployed idiot who listens to to (sic) much talk radio?
Ouch. That hurts. Especially after I admitted it was a self-parody mocking conservatives desire to want to blame Obama for everything bad. Anyways I am unemployed (student) and if by talk radio you mean Fresh Air with Terry Gross than yes I listen to too much. Great job at dissecting a moderate-conservative.
March 15th, 2009 at 12:56 pm
“Well, ANYONE who charges $6 Trillion of the taxpayers money on the national credit card and blows it like a drunken sailor can give the ILLUSION of prosperity for a while.”
And that’s why Obama should win in 2012, because he’s going to charge even more than $6 trillion on the national credit card. More ILLUSION of prosperity, until the bill comes do.
We’ve got one more bubble in us, and Obama’s going to bring it out. After that, the collapse. The Chinese aren’t going to get fooled twice and will dump their worthless Treasuries.
March 17th, 2009 at 3:13 am
You made some good points there. I did a search on the topic and found most people agree with your blog.
March 17th, 2009 at 2:54 pm
Thank you Mr. President for all your good works. I am greatful to you and your family over the many years you gave of your time
March 17th, 2009 at 6:25 pm
Эээ, а объясните, пожалуйста, а то я что то не совсем в тему въехал, это как?
March 19th, 2009 at 6:10 am
Does anyone know where I can find free online grant applications?
March 19th, 2009 at 2:29 pm
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March 21st, 2009 at 12:46 am
Честно, неплохая новость
March 22nd, 2009 at 2:03 pm
Wow! Thank you! I always wanted to write in my site something like that. Can I take part of your post to my blog?
March 22nd, 2009 at 9:53 pm
bookmark it
March 22nd, 2009 at 9:58 pm
i’ll reed it againn
March 22nd, 2009 at 10:02 pm
hello
just thanks
March 22nd, 2009 at 10:13 pm
bookmark it
March 22nd, 2009 at 10:14 pm
i’ll reed it againn
March 22nd, 2009 at 10:16 pm
hello
just thanks
March 22nd, 2009 at 10:23 pm
bookmark it
March 22nd, 2009 at 10:23 pm
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March 23rd, 2009 at 6:34 am
Прикольно
Можно сказать, это взорвало мой мозг! 
March 23rd, 2009 at 4:50 pm
This post is the best post I have seen all year, If I did link roundups this would be the first link in mine.
March 23rd, 2009 at 5:12 pm
This advice is really going to help, thanks.
March 24th, 2009 at 7:08 am
Статья просто суперская! Братцы, задумайтесь
March 25th, 2009 at 7:56 am
Не жалею, что потратил пару минут на чтение. Пишите почаще, еще непременно зайду почитать что-то новенькое.
March 25th, 2009 at 4:13 pm
Even during the recession we were bringing in people from overseas to fill niche positions. If you take that option away, companies will just move out of Hong Kong.\par
March 25th, 2009 at 5:18 pm
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March 27th, 2009 at 6:17 am
Пост навел на размышления ушел много думать …
March 29th, 2009 at 11:34 pm
Елки-палки, уникальная заметка
March 31st, 2009 at 1:15 pm
Полезная инфа, поставлю в закладки и добалю в новости, пусть другие то же читают
April 1st, 2009 at 4:13 am
Просто замечательно, thans!!! Good information!
April 1st, 2009 at 6:35 am
Просто замечательный ресурс, хоть и на английском
April 1st, 2009 at 11:30 am
“Дорогу одолеет идущий”. Желаю вам ни когда не останавливаться и быть творческой личностью – вечно!
April 1st, 2009 at 3:23 pm
Оооо! Вот это в точку сказано. Люблю, когда все к месту и при этом понятно для простого смертного.
April 2nd, 2009 at 6:25 pm
Я писал что-то подобное, но у Вас тема более глубого раскрыта
April 3rd, 2009 at 6:00 am
И о чем интересно здесь написано Вадим)))?
April 4th, 2009 at 4:31 am
Все оставляют комментарии из за того что PR здесь 7)))
April 4th, 2009 at 4:00 pm
Привет, статья интересная и я тоже процитирую у себя в блоге
April 8th, 2009 at 12:09 am
Да гогле расщедрился 7-ка это очень круто, скока интересно ссылки здесь стоят
April 8th, 2009 at 4:00 am
Ну и что, что 7 в ПР, блог то с тегом Nofollow
April 9th, 2009 at 4:39 pm
За ссылку платят и ладно
April 11th, 2009 at 4:34 am
I like the info and will be linking back to you from my site. Also great looking site.
April 11th, 2009 at 2:24 pm
I like the info and will be linking back to you from my site. Also great looking site I wish I had one like this.
April 11th, 2009 at 4:51 pm
Очень интересно пишете, достойно внимания, тема развернута полностью, заходите в гости)!
April 12th, 2009 at 10:19 am
Nice post. Thanks for sharing these tips.
April 12th, 2009 at 11:58 pm
Great blogs love
April 15th, 2009 at 8:44 am
Премного благодарен, что просветили, и, главное, как раз вовремя. Подумать только, шесть лет уже в инете, но про это первый раз слышу.
April 16th, 2009 at 2:09 am
Плохо что я английского не знаю, не все могу прочитать…
April 16th, 2009 at 4:56 am
Вита, советую учить иностранные языки, легче будет общаться, и вообще в жизни пригодится.
April 17th, 2009 at 9:45 am
А я легко читаю на 7 языках.
April 17th, 2009 at 10:34 pm
Пост неплохой, закину сайт в закладки.
April 19th, 2009 at 3:05 am
Иглесиас всегда мне нравился, очень приятный голос
April 20th, 2009 at 6:15 am
It’s worth considering. I mean why not. I read this post twice and have to agree with the angle here. Quite clever