Judiciary Report - World Mad At George Bush And Congress

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World Mad At George Bush And Congress

October 1. 2008

Things aren't so rosy in the rose garden

World leaders from all over the globe are expressing their ire regarding President George W. Bush and Congress, over the collapse of the U.S. economy, due to mismanagement, misappropriation, overspending and flat-out lying about what was really happening in corporate America.

U.S. stock market plunged

As I have written on here for well over a year, being in denial never solved anything, as it will only cause situations to deteriorate. Too bad the government didn't wake up sooner.

People in London sad after losing their jobs when U.S. financial firm Lehman collapsed (Photo by Sky News)

Where there is smoke there is fire. One must be careful believing when politicians and corporations deny anything is wrong, as that's what they instinctively do, so as not to scare investors and voters. Politicians will lie to save face, their legacy and votes.

"After a weekend of speculation, British bank Bradford & Bingley was nationalized" (Photo and caption by Sky News)

Heads of State representing Germany, Russia, Brazil, Venezuela and Argentina, to name a few, have denounced Bush and co.'s recklessness and irresponsibility, that is now affecting the globe.

Halifax Bank of Scotland stock plunged and they were taken over by Lloyds of London. (Photo by Sky News)

Global stock markets have been erratic, companies have gone under and people lost their jobs. Some nations underwrote loans and policies that the U.S. banking industry attached terrible terms to, then inflated, creating much of this crisis.

"Hong Kong's third biggest bank had been badly hurt by its exposure to AIG and collapsed investment bank Lehman Brothers" (Photo and caption by Sky News)

The byproducts of President Bush's terrible war in Iraq created the rest of the problem, mutating into overspending, thievery, gouging and the rising cost of living.

"European stock markets dived as the global financial crisis forced Belgian-Dutch giant Fortis into government control" (Photo and caption by Sky News)

The cumulative picture of the cost of living and excessive government spending, wasn't exactly a Picasso, which should have been the indicator something was wrong or was about to go that way.

Bush through his corrupt policies and "no rules apply" approach to corporate America, cost the country its place in the world, as the top global financial force.

It is my hope this expensive, costly lesson will lead to change in how corporate America does business at home and abroad.

It is also my hope that the U.S. Congress passes proper legislation to ensure something like this never happens again. Bush's presidency essentially had no checks and balances, the very opposite of what American politics is famous for.

US Senate Banking Committee chairman Chris Dodd (left) and Senator Judd Gregg (Sky News)

In the future, it would be appropriate that the American people get to vote on foreign policy and how they want their tax money spent. When a government in a democracy runs solely counter to the will of the people, those in power have gone astray.

The sad part is, democracy is good and capitalism is a great entrepreneurial tool in creating a thriving economy. But one would not know that in witnessing what Bush and company did with the approval of a weak Congress.

THE END OF ARROGANCE: America Loses Its Dominant Economic Role

The banking crisis is upending American dominance of the financial markets and world politics. The industrialized countries are sliding into recession, the era of turbo-capitalism is coming to an end and US military might is ebbing. Still, this is no time to gloat.

There are days when all it takes is a single speech to illustrate the decline of a world power. A face can speak volumes, as can the speaker's tone of voice, the speech itself or the audience's reaction. Kings and queens have clung to the past before and humiliated themselves in public, but this time it was merely a United States president.

Or what is left of him.

George W. Bush has grown old, erratic and rosy in the eight years of his presidency. Little remains of his combativeness or his enthusiasm for physical fitness. On this sunny Tuesday morning in New York, even his hair seemed messy and unkempt, his blue suit a little baggy around the shoulders, as Bush stepped onto the stage, for the eighth time, at the United Nations General Assembly…

"Absurd, absurd, absurd," said one German diplomat. A French woman called him "yesterday's man" over coffee on the East River. There is another way to put it, too: Bush was a laughing stock in the gray corridors of the UN…

"Well," Brazilian President Luiz Inacio "Lula" da Silva began, standing outside the General Assembly Hall. Then he looked out the window and said: "He decided to talk about terrorism, but the issue that has the world concerned is the economic crisis."

For weeks, Bush ignored the crisis, insisting on the strength of the market and telling Americans: "Everything will be fine."

In a televised address to the nation last Wednesday, Bush gave his oath of disclosure. He warned Americans that they could face a "long and painful recession" and that "millions of Americans could lose their jobs" unless swift action is taken.

http://www.spiegel.de

Vladimir Putin lashes US for economic failures

October 1, 2008 - Russia's Prime Minister Vladimir Putin (L) holds a five-year-old tiger's head as scientists put on a collar with a satellite tracker on the animal in the academy of sciences Ussuri reserve in Russia's Far East, August 31, 2008.

The Russian Prime Minister Vladimir Putin lashed out at the United States today for what he said was its inability to deal with the financial crisis affecting the global economy.

In remarks unlikely to go down well in Washington, Mr Putin was especially critical of Congress's rejection of a $700 billion bank bailout – a rejection that hit Russian financial markets particularly hard.

“Everything that is happening in the economic and financial sphere has started in the United States. This is a real crisis that all of us are facing," the former president told a government meeting in Moscow.

“And what is really sad is that we see an inability to take appropriate decisions. This is no longer irresponsibility on the part of some individuals, but irresponsibility of the whole system, which as you know had pretensions to (global) leadership."

http://www.timesonline.co.uk