One Weekend; One Dramatic Change of Heart

By Mike Lillis 03/17/2008 05:15PM

It was the same man talking, but the message sure changed in 72 hours.
Speaking at the Economic Club of New York Friday, President George W. Bush warned that there are limits to government intervention in markets:

I guess the best to describe government policy is like a person trying to drive a car on a rough patch. If you ever get stuck in a situation like that, you know full well it's important not to overcorrect. Because when you overcorrect, you end up in the ditch.

On Monday, one day after the Federal Reserve announced its $30 billion taxpayer bailout of one of the nation's largest investment banks, Bear Stearns, Bush's tone was a bit different:

One thing is for certain -- we're in challenging times. But another thing is for certain -- that we've taken strong and decisive action. The Federal Reserve has moved quickly to bring order to the financial markets.

No mention of where $30 billion puts us in relation to that ditch.

Comments:

nikkym
Posted 03/18/2008 10:27am with

Nice and succinct. While we’re at it, where does the government plan to get the $$ to give us $600 spending money? It feels like my addled gambling-addict dad is weeping and saying, “I love you, honey, here, go buy that $2000 pony you really wanted,” while he goes home to eat spam.

Not only does Bush not believe in karmic retribution, he doesn’t even believe in math.