How the World Works

George Bush and his bank bailout

During Hank Paulson's meeting with the nine bank CEOs on Monday, the Treasury Secretary told the assembled moguls that they must agree to the government equity injection because, according to one witness, "It was for their own good and the good of the country."

Did George Bush get the memo? Here is the President in Grand Rapids, Michigan, Wednesday afternoon, speaking with local business leaders.

I, frankly, don't want the government, you know, being involved with businesses -- owning businesses.

I don't think it's good for the country. It was necessary that the stock be purchased to help us through this financial crisis, but in the long run, it's not good for the country.

In the long run, as the back-in-fashion John Maynard Keynes so famously said, we are all dead. The short run's all we got, George. Suck it up!

Google vs. Microsoft: Haven't we seen this movie?
Shades of 1995: A Web-based upstart threatens to topple Windows from its throne
Is the Obama economic rescue plan a failure?
Swayed by GOP attacks, independent voters are abandoning ship. But the summer of stimulus love has hardly started
Are automaker woes skewing unemployment figures?
In the summer, the Big 3 usually idle factories and lay off workers. But this year, they're ahead of schedule
The Pope's liberal Christian values
Social justice, wealth redistribution, a new morality for Wall Street -- the pontiff throws down on capitalism

About How the World Works

A conversation about globalization.

Recent Posts

Is the Obama economic rescue plan a failure?
Swayed by GOP attacks, independent voters are abandoning ship. But the summer of stimulus love has hardly started
Are automaker woes skewing unemployment figures?
In the summer, the Big 3 usually idle factories and lay off workers. But this year, they're ahead of schedule
The Pope's liberal Christian values
Social justice, wealth redistribution, a new morality for Wall Street -- the pontiff throws down on capitalism

Full Archive

RSS Feed

Posts by date

July 2009
SuMoTuWeThFrSa
1234
567891011
12131415161718
19202122232425
262728293031

Comments?

You can e-mail me directly at aleonard@salon.com. But to join the conversation with your comments, please use our letters to the editor feature at the bottom of each article.