WASHINGTON, Jan. 13, 2009
Bush: I Think I Lost Money, Too
President Says Recession Has Likely Hit Him; Assets Are In A Blind Trust
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(CBS)
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Section The Bush Legacy As President Bush leaves office, the nation takes a look at his record.
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In-Depth Meltdown Primer Questions and answers regarding various aspects of the current economic crisis.
In an interview with CNN's Larry King on Tuesday, the president said his personal assets are in a blind trust and that the last time he talked with the trustees was eight years ago. Bush said he has "no earthly idea" how much he and his wife have lost in the market slump but said he's confident that they had lost some.
Asked what part of the responsibility for the financial meltdown rests on his shoulders, Bush defended his decision to ask Congress to approve a $700 billion financial rescue plan. He said his actions have mitigated the effects the economic crisis is having on Americans. He also argued that his administration called for reform of mortgage giants Fannie Mae and Freddie Mac, but that no legislative reform was ever passed.
"Not to blow my own horn, but I recognized the dangers inherent with Fannie Mae and Freddie Mac and asked Congress to regulate them," Bush said, adding that he was worried they were getting a little overextended.
But he acknowledged that his administration did not foresee the meltdown.
"No, we didn't see it coming," he said. "We saw that there could be dangers in an unregulated Fannie and Freddie and they needed a regulator and they needed to be reined in."
In the interview held in the White House library, Bush also defended Vice President Dick Cheney, describing him as an intelligent patriot. He denied allegations that some of the harsh interrogation techniques used on terror suspects amounted to torture and said he was "comfortable" with the methods used because they were based on legal opinions. While he said the U.S.-led invasion in Iraq was the right decision, he acknowledged being "worried Iraq was going to fail" at the time he decided to dispatch 30,000 more U.S. troops there in 2007.
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Bush was asked if Hurricane Katrina was the lowest point of his presidency.
No, we didn't see it coming. We saw that there could be dangers in an unregulated Fannie and Freddie and they needed a regulator and they needed to be reined in.
President Bush"Well, I think being called a racist was the low point," Bush replied, referring to reaction to the federal government's sluggish response to the needs of hurricane victims, many of whom were black.
Asked if he thought he had gotten a bum rap as president, Mrs. Bush chimed in, saying that she thought he had. "A lot of it was very personal and demeaning," she said.
The president, however, brushed off the criticism, saying he couldn't and didn't make decisions based on polls.
On other issues, the president said he was a little surprised that his brother, Jeb, decided not to run for the Senate from Florida. Bush declined to tip his hand about whether he planned to issue more pardons before leaving office. And he said he had no interest in being commissioner of baseball - that even though he loves the sport, he was going to focus his attention on writing a book and developing his presidential library and center at Southern Methodist University campus in Dallas.
© MMIX The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Best-selling author Mitch Albom on his first nonfiction work since "Tuesdays with Morrie."
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See all 156 CommentsPosted by enviro_wacko at 04:53 PM : Jan 14, 2009
Seig heil! Sounds like the work of gerbbils.
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Posted by repo_man_08
I saw her post yesterday that it happened to her then, too. She said she had CBS'' phone number and was really going to give them a piece of her mind. Guess she didn''t have a piece left to give!
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Posted by enviro_wacko
Oh dear, that will be Rowdy conspiracy theory #105.
...because they were not busy ignoring it.
Your bigotry is showing
Here a Commie,
There a commie,
Everywhere a Commie, Commie
Here an Arab,
There an Arab,
Everywhere an Arab, Arab
Here a Muslim,
There a Muslim,
Everywhere a Muslim, Muslim
Posted by misha128 at 02:51 PM : Jan 14, 2009
That is SO FUNNY! LMAO!
Your bigotry is showing
Here a Commie,
There a commie,
Everywhere a Commie, Commie
Here an Arab,
There an Arab,
Everywhere an Arab, Arab
Here a Muslim,
There a Muslim,
Everywhere a Muslim, Muslim
Posted by misha128 at 02:12 PM : Jan 14, 2009
Yes, the 20th could get a bit dodgy, what.
As Obama is getting sworn in, a justice of the Supreme Court might have to run up on the stage and shout "STOP! We have to do the elections all over again..."
HAHAHAHAHA
Posted by repo_man_08 at 02:22 PM : Jan 14,
In the strange and unlikely case that happens Biden would probably become the president by succession.
We should all know what the court decides by the 21st -- then I can determine if my new source is of any value.
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Posted by misha128 at 02:12 PM : Jan 14, 2009
Nawwwwww, we will know about a couple of them by the 23rd,
Posted by TexHillGirl at 02:23 PM : Jan 14, 2009
Yes there is a second in line -- but the more they deny SHOULD that be the case -- My sources indicate the faster they become at denying subsequent cases based on similar arguments (as in they never get to conference because the other justices already know the poaitions of their fellow justices and the court is a busy place).
We should all know what the court decides by the 21st -- then I can determine if my new source is of any value.
see
Posted by misha128 at 01:57 PM : Jan 14, 2009
Posted by misha128 at 01:17 PM : Jan 14, 2009
All you do is throw up cases...you haven''''t a clue what they mean...
Posted by TexHillGirl at 01:37 PM : Jan 14, 2009
Actually I found another new source for which I have no experience with their accuracy that indicated the Supreme Court denied the Berg case a hearing in open court as the docket indicated contrary to your claim. They further clarified that the conference on the 16 is to determine the status if injunctive relief. Injunctive relief to stop and event that has already been completed (the counting of the electoral votes in the Senate) commonly requires a presumption that the petitioner Berg will prevail in a subsequent hearing. However the court has already denied the "subsequent hearing", the results from the Friday 16th MAY (I repeat MAY) not be known until Wednesday the 21st as the Monday the 19th and Tuesday the 20th are holidays associated with the Inauguration in DC.
Posted by repo_man_08 at 01:28 PM : Jan 14, 2009
And then there''s repo_man. He learned to spell gerbbils today. His new word will appear in every post. Too funny.
Posted by takebackusa at 01:27 PM : Jan 14, 2009
Of this I am well aware. Thanks for the heads up anyway.
Posted by TexHillGirl at 01:09 PM : Jan 14, 2009
That''s the first time I ever heard the United States Court of Appeals FOR THE DISTRICT OF COLUMBIA CIRCUIT referred to as lefty {expletive}, I believe they are part of the government and second (with the other appellate courts only to the Supreme Court in the task of interpreting the constitution and laws of this country. Could you cite a reason for your assertion they are part of the lefty {expletive}?
And squeak squeak squak, the financial markets would have been fine and made money had the DUMPOCRAPS not blown it completely out of the water as a viable investment opportunity!
Posted by TexHillGirl at 01:12 PM : Jan 14, 2009
yeah right, you know, I know and they know, had Pres. Bush succeeded in putting U.S. Social Security in the Stock Market like he wanted to and had the Stock Market crashed like it did costing Americans their security blanket Pres. Bush would not have completed his term, everybody knows, squeak squeak squak my a s s, lol.
And squeak squeak squak, the financial markets would have been fine and made money had the DUMPOCRAPS not blown it completely out of the water as a viable investment opportunity!
Posted by TexHillGirl at 01:12 PM : Jan 14, 2009
yeah right, you know, I know and they know, had Pres. Bush succeeded in putting U.S. Social Security in the Stock Market like he wanted to and had the Stock Market crashed like it did costing Americans their security blanket Pres. Bush would not have completed his term, everybody knows, squeak squeak squak my a s s, lol.
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