All Posts Tagged With: "president bush"

While Lawmakers Reach Credit Crisis Compromise, Money Morning Bailout Plan Expert Displays Doubt

Congressional negotiators late yesterday (Thursday) reached a tentative agreement on a credit-crisis compromise that gives the Bush administration about a third of the $700 billion it has requested up front, but made sure half that outlay was subject to a congressional veto, published reports state.

Details remained sketchy late yesterday. However, this much is known. Under the plan – known as the “Troubled Assets Rescue Plan,” or TARP – U.S. Treasury Secretary Henry M. “Hank” Paulson Jr. would get an immediate $250 billion to begin bailout operations, and could obtain an additional $100 billion if needed. The final installment of $350…

26Sep2008 | Money Morning | Comments Off | Continued

What to do During a Market “Adjustment”

“I know Americans are concerned about the adjustments that are taking place in our financial markets.” – President Bush

Adjustment!?!

What on earth is a financial market “adjustment?”

Despite the sugar-coating, President Bush did get one thing right, Americans are concerned. More like afraid. Fear has taken over the markets. And I’ve got to tell you, I’m loving every second of it…and you should be too.

The U.S. economy has plunged into recession. Unemployment has surged more than 50% in the past two years. Multi-billion dollar investment banks like Bear Stearns, Lehman Brothers, and Merrill Lynch that leveraged themselves against the housing market…

22Sep2008 | Q1 Publishing | Comments Off | Continued

Congress Mortgages the Economy’s Future to Save Fannie Mae and Freddie Mac

With President Bush no longer threatening a veto, the subprime mortgage and Fannie Mae (FNM) and Freddie Mac (FRE) “bailout” bill sailed through Congress. In anticipation of its enactment, Congress had the foresight to raise the national debt limit to $10.6 trillion. Who says that politicians don’t plan ahead?

Once signed into law, which should happen sometime this week according to a White House spokesman, the budget busting legislation will hand the Administration a blank check to prop up the ailing home lenders. The ultimate cost is anybody’s guess. I believe that the price tag will be higher than just about anyone…

29Jul2008 | Money Morning | Comments Off | Continued

To the Members of Congress: The Only Three Moves That Will Stop the Oil Price Advance

An Open Letter to Congress:

First there was the trillion-dollar pork fest for energy.

Then there was the decision to go with corn-based ethanol.

Now, Congress has voted to stop adding oil to the national Strategic Petroleum Reserve (which was created in the 1970s to smooth out pricing disruptions and supply problems).

Talk about missing the point!

Sure you could argue that by putting less into the strategic reserves we could take some of the pressure off price… and by implication help bring it down from its record level at more than $130 a barrel.

I mean it sure sounds good in theory, especially in an…

22May2008 | Money Morning | Comments Off | Continued

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