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I just read the full text of President Bush’s speech last night and I note his efforts, “D” at best. He did not make the case that is the real skinny muss.Hier and I think President Bush would have said, and “My fellow Americans: the annual report on Treasury bonds fell yesterday to 44 basis points. at times yesterday it was negative. This shows that companies and people are not covered with more money than the FDIC insurance are ready to deposit in banks, they are not loans, commercial paper with funds or deposits Kauf.Ohne commercial paper, banks have no money to lend to its classic regular customers, even if credit is good regular customer. I’m at the local grocery store, on Friday paid their employees and pay the bank every Monday from the weekend’s sales to pay Denken.Ohne funds available to banks to make them can not think that quality loans to people Stammkunden.Viele, bank executives and managers must for the production of all these bad mortgages to be fired and they want to question this bailout program, until Banks are running better sein.Amerika no time, if this can happen warten.Booten the bank manager would have to leave us, banks are not at first. It is illegal to simply take over banks, unless and until they are no longer would be under funktionieren.Wenn payments over the America stoppen.Das mechanism means that your credit card, card and debit your debit card does not work. Nobody controls, because they could not tell if your bank in a position to pay morgen.Wenn happens, it would not be possible to get food or gas or something when you actually have money now . This would reduce the overall sales volume of the case, maybe only 1/3rd or less regular Ebenen.Und then employees will be laid off, and any transaction that could not be a huge drop in sales gehen.Wenn bankruptcy you and your extended family has four workers of all, I lose one of them on his work and the other is said that their wages are now less than 1/3rd of what they were, or they lose their employment is reden.Dies, we must avoid – the payments mechanism in America must continue to operate werden.Wenn this means that we must accept that certain officers and executives who lose their jobs, they deserve to get and keep because they are the payments mechanism, which is a price we pay only haben.Kredite whose value is unknown must be less than the height of the capital, reduced each and every bank has on hand. As financial markets have already shown that she has no more capital for banks, one in the impaired assets of banks entfernen.Dies that the program of my Government proposed to do wird. und the only entity big enough to do to ensure that the entire economy of the Bundesregierung. Um it is time for Congress to act, I have the Securities and Exchange Commission and the Federal Reserve asked to engage immediately a holiday. They have agreed tun.Alle banks, stock exchanges, futures exchanges, brokerage firms and similar companies across America are closed tomorrow. They are closed until Congress acts bleiben.Es is very likely that your credit card does not work tomorrow. Their debit cards and bank cards will probably not work. And stores may refuse a check nehmen.Banken and markets have reopened, if security is not sufficient for their depositors and ordinary creditors, and that these assets are weak to lead banks and not take their deposits and Short-term Ausleihungen.Unsere prayers tonight and every night America, Thank you and good night .*** Well, that’s what I think the President has said and done, what is your opinion? I started in banking in 1970. on the way, I earned an MBA and CPA. I have is economic booms and busts in real estate loans since my first bust in 1973 gesehen.Dies far the worst situation since then.

6 Thoughts on Would not have been better than what President Bush really said?
  1. Reply
    Pfo
    May 3, 2011 at 11:49 pm

    Your version of the speech failed to explain what was going on, and did not define terms that the average American wouldn’t know. You sir, get the D. Last night Bush gave one of his best speeches ever, it was definitely B quality (he could have explained a few more things).

  2. Reply
    Eric S
    May 3, 2011 at 11:53 pm

    I commend this speech, but I find the banking holiday to be unnecessary because the last thing we want to do is create a psyche in the American people that they can no longer rely on the checks and ATM machines.

    We want to fix the crisis to avoid exactly this kind of banking holiday from being a holiday that never ends. It is unfair to have the American people pay the price for Congress acting slowly.

    The Congress IS acting and they’ve nearly reached an agreement where the bail out will go through but contain regulations on compensation for corporate executives and also require a government return on the investment in the event the financial institutions prosper in the near future.

  3. Reply
    Bono rocks!
    May 4, 2011 at 12:43 am

    Well this is definitely a more informed speech…but, on the other hand, we don’t want to be scaring people out of their minds. Everyone’s flipping out as it is, and what we really need right now is just to honestly devote ourselves to all issues so we can face them head-on. Right now, no one in the White House has any idea what’s going on. Nor do we. If you want things to change, you have to be strong and make it happen. It doesn’t just “happen” on its own, and America has to stop neglecting everything that makes it function. As for Bush’s speech, how many truly “good” speeches has the man ever made? I respect that he said that last night, but you have to remember he is a president, and presidents have advisors.

  4. Reply
    Virtual Evie
    May 4, 2011 at 1:33 am

    I could get behind your speech because it gives real answers not fear inducing rhetoric. You make sense with your view of the situation based on your professional moral ethic.

    We don’t want the bailout. We want to let the market right itself, as it will. We are not afraid of pain and hardship, we are used to it. Its the people with educations, bank accounts and assets who are worried. The rest of us have been suffering for a long time. Times get tough and the tough get going. Its the softies who are in fear of economic collapse. Remember: When one door closes, another one opens.

  5. Reply
    pdk
    May 4, 2011 at 2:08 am

    Great insights. I agree except it’s not the bank managers that are all at fault, everyone was greedy along the line (those making the mortgages telling people they could get bigger mortgages then they could really afford, the rating companies that overrated the mortgages (so they could be competitive so they could be more profitable and competitive), and the investment banks for not doing their due diligence to research the loan packages they were actually buying and determining their real worth. Perhaps we should go back to the old days where people paid for most of their home in cash and investment firms don’t buy these huge bundled mortgages.

  6. Reply
    chelsey2you
    May 4, 2011 at 2:11 am

    Well, ill be striaght up, I think everyone in washington needs to get thier head out of thier A** pay attention to the real problems at hand… PEOPLE CANT AFFORD TO LIVE!!! how does the economy expect to make money off us if we can’t even pay our bills!, let alone anything else! No wonder the dumb A**es are broke. The prices on everything are to high, food, gas, everthing! We have to do something about this its killing the US.

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