GOOD (Sucko, screwed, bollixed) JOB, BUSHIE
Four Body Blows to a Staggering Presidency This morning's NY Times and Washington Post front pages features four stories documenting the gross failures of the Bush Administration (and its enabling Congress). Economic, foreign and domestic failures stack on the stinky pile Prez Bush is leaving for his successors to try to clean up. ECONOMIC NY Times : Fed Shrugged as Subprime Crisis Spread Some excerpts: Today, as the mortgage crisis of 2007 worsens and threatens to tip the economy into a recession, many are asking: where was Washington? An examination of regulatory decisions shows that the Federal Reserve and other agencies waited until it was too late before trying to tame the industry’s excesses. Both the Fed and the Bush administration placed a higher priority on promoting “financial innovation” and what President Bush has called the “ownership society.” “The Federal Reserve could have stopped this problem dead in its tracks,” said Martin Eakes, chief executive of the center (f...