[The
Telegraph, U.K.]
Le Figaro, France
The Financial
Crisis and the Curse of George W. Bush
"The president, who began his
first term under the shock of the September 11, 2001 attacks and inaugurated
his second term with debacle of Hurricane Katrina, is now completing his time
in the White House under the threat of a 'Financial 9/11.'"
Philippe Gelie in Washington
Translated By Kate Davis
September 28, 2008
France
- Le Figaro - Original Article (French)
A kind of curse must
be following George W. Bush. The president, who began his first term under the
shock of the September 11, 2001 attacks and inaugurated his second term with the
debacle of Hurricane Katrina, is now completing his time in the White House
under the threat of a "Financial 9/11."
His reaction to
the first crisis resulted in a "sacred unity" around him, which
lasted until the first reversal of fortune in Iraq. The second [Hurricane
Katrina] exposed the incompetence of an administration silenced by loyalty. The
third should have corrected these bad memories: with the appointment in 2006 of
Henry Paulson, former chief of Goldman Sachs, Bush put at the head of the
American Treasury an expert on financial markets, who quickly assessed the
situation and proposed a drastic remedy.
Posted by WORLDMEETS.US
Renouncing his
"non-interventionist" economic philosophy, the president closely
followed suit. On Wednesday evening in an address to the nation (the sixth of
his second term), he was as solemn as he was seven years ago. Refusing to
meddle in the election campaign, he invited the two presidential candidates
seeking to replace him for a discussion. But above all, his efforts highlighted
the fact that much of the political game in Washington is beyond his control.
[24 Heures,
Switzerland]
On Friday
morning, in an effort to calm the financial markets, George Bush made another
brief statement at the White House: "The legislative process is sometimes
not very pretty, but we are going to get a package passed. We will rise to the
occasion," he said, promising that there would be a "substantial
rescue plan" for the financial markets.
His comments
brought to mind the events of the night before, when his authority was
undermined by his own party. The meeting organized by the White House with John
McCain and Barack Obama and leaders of the two parties in Congress, was
supposed to give a stamp of approval to the amended Paulson proposals. The
administration has accepted congressional oversight and increased safeguards
for taxpayers. In fact, the meeting at times turned into a free-for-all.
KNEE TO THE
GROUND
Abandoned by the
Republican minority in the House of Representatives, Bush has found himself in
the unusual role of having to depend on the Democratic majority in Congress.
"Don’t let this fail," he said to his conservative friends [quote unconfirmed].
In the hallway, Paulson even put his knee to the floor in front of Nancy
Pelosi, the Democratic Speaker of the House: "Please don't blow up this
deal," he asked. "It's not me blowing this up. It's the
Republicans," she said. "I know, I know" Paulson sighed.
Posted by WORLDMEETS.US
This unusual
image symbolizes the little strength that remains for a president who has
fallen to 26 percent in the opinion polls, confronting a Congress which faces
election: the entire House of Representatives and a third of the Senate will be
replaced on November 4.
CLICK HERE FOR FRENCH
VERSION
[Posted by WORLDMEETS.US
September 29, 7:15pm]
