Posted on 09/29/2008 2:50:42 PM PDT by Iron Munro
Former House Speaker Newt Gingrich (R-Ga.) said the Wall Street bailout plan pushed by President Bush signaled the “final collapse” of the current administration.
“The Bush administration has now provided three case studies in arrogance, isolation and destructiveness: Michael Brown during Hurricane Katrina, Ambassador Jerry Bremer in Baghdad and Secretary [Henry] Paulson at Treasury,” Gingrich said. “It is a tragic and very expensive legacy. No conservative and no Republican should doubt how much it has hurt our cause and our party.”
The former Speaker reiterated his call for the resignation of Treasury Secretary Henry Paulson.
“As long as Secretary Paulson is in charge, it is impossible to get a creative or significantly better solution,” Gingrich stated, adding that the Treasury chief was “an even greater obstacle to a good bill than the liberal Democrats who run the House and Senate.”
Despite his objections, the former Speaker changed his position on the measure and said he “would reluctantly and sadly vote for the bailout were I still in office.” However, he added that he “understand[s] and sympathize[s] with any member who votes ‘no.' ”
His statement was issued before the bill was defeated in the House.
Gingrich predicted that the economy would “limp along and there will be a grave danger of yet another bailout next year,” unless Congress passes an economic growth and an energy bill.
Newt forgot to mention the Kennedy/Bush/McCain Shamnesty plan.
Remind me why Newt didn’t run?
Three wives...only acceptable for Democrats.
Because he couldn’t win?
Let the Newt genuflectors have at me.
I respect the historian, author and House revolutionary Newt Gingrich.
I do not respect his recent comments.
Considering that Newt would have ‘reluctantly’ voted FOR this bill, and considering that Newt is far left of GWB on the fraud known as global warming, and considering that Newt worked to undercut Duncan Hunter’s get tough on illegals efforts while speaker of the House, Newt has no standing to dis GWB.
I am with Newt, He is the only one with solutions. I am for the market to correct itself. Take the pain and move forward. No Jigering. I think the market will bottom tommorrow when the hedge funds reort. Keep the government the hell out of it. I can not believe the tv people in a PANIC about the damn government. The people spoke today. Now they will do their best to silence us.
I made the same points, albeit less eloquently, this morning after Bush's lame-o remarks prior to the vote.
And Newt buying into the MSM’s meme about Katrina aide being such a disaster is beyond pathetic.
Former House Speaker Newt Gingrich reversed course on Monday, issuing a statement saying that if he were still in office he would "reluctantly and sadly" support the $700 billion Wall Street bailout bill.
Not sure who to believe on Newt's stance.
Paulsen SHOULD resign.
Best idea I heard all day.
Never mind. I’ve lost my mind, apparently (not that there’s much to lose).
I'm with you. Newt is a thinker. I was just talking to my husband about McCain's prepared remarks addressing the failed bill. I noted how Newt can speak without teleprompter or notes because he knows how things work and is able to speak intelligently and with passion.
Newt is right; Bush has done damage to our party not seen since Watergate.
Newt is in favor of American Solutions For Winning The Future (TM) - the lamest and weirdest concatenation of focus-grouped BS words ever strung together in a single lunatic phrase.
Newt’s main cause is Newt.
He has a talent for flamboyant rhetoric, especially in ridicule. But his test for the validity of an idea is if it polls at 80%.
Paulson resign? Yeah, that that would do wonders for the situation. What an idiot.
Newt has his problems, but he’s right about this. Bush does not have a good record on appointments. And there’s no doubt that Paulson is not only a Democrat player, who is working hand in glove with Obama and Pelosi, but that he is working for Goldman Sachs rather than the U.S. taxpayer.
Paulson basically ignored the Republicans and worked with Pelosi, Reid, and Obama to produce this plan.
But Obama, Pelosi, Frank, and the rest got too greedy and too polemical, spent too much time blaming the Republicans instead of trying to work with them, or Paulson’s plan probably would have passed. It’s said that Bush was bushwacked at the White House meeting when what was supposed to be a compromise meeting to hammer out a bipartisan plan suddenly turned into an ambush, when Pelosi and Reid handed the gavel over to Obama, who presented Paulson’s Plan which had been slipped to him behind the scenes, and said take it or leave it.
And of course all the while they were telling McCain to get lost and blaming the Republicans for causing the problem.
Paulson has been right in the middle of that. Bush was suckered by him. He knew that Paulson was an expert on financial matters, but he forgot that he was a big-time supporter of the Democrats, who share pork with him.
I’m done with Newt for good.
The Katrina aid was a pathetic disaster. Bush appointed a horse jockey to a job that should be held by a retired Army infantry general. [food, shelter, medical care, constrution work, transportation, water, sanitation to remote hostile environments]. The guy was worse than a Harriet Miers.
Newt must know some inside information that the media or the WH is not telling us to say such a thing.
I trust Newt insights far more about 95 % of the DC movers and shakers
Newt is spot on as always.. and I always seem to be saying that!
That and tapping interns. He is the GOP's Bill Clinton. Brilliant, but fatally flawed by his own loins.
No informed individual would argue with Newt on that point.
Well, somebody had to say it. You’re right Newt.
I'm quite sure, based on your posting....that you would have done a great job.
Nonsense. The National Guard & Coastguard had boots on the ground immediately. I don’t give a sh*t about Brownies qualifications. The federal ‘non response’ is a f***** myth. The blame for non evacuations belongs squarely on Naggin’s and Balnco’s heads
Worth repeating many times!
Brown was there. He had his people pre-deployed ready to go into action. The Navy and Coast Guard rode out the storm right off shore ready to go. Guard units from neighboring states were activated and offered on loan to Louisiana, prepared to move as soon as the wind stopped.
Governor Blanco sat frozen refusing to move, refusing to send in her Guard, refusing to allow rescue units into the area because it wasn't safe.
The same storm hit the same demographics in two other neighboring states, and we didn't have any of the horror-show we had in Louisiana, because Blanco wasn't in charge there.
Brown did his job. So did the Navy and the Coast Guard, federal units all. Once Bush federalized it, it all went forward as it should have from the beginning. The problem was Blanco, not Brown.
This is important because the story of the bail-out is also being re-written right in front of us. The "greedy CEO's" have names, and they have enablers in Congress and in the Senate. All that is being sanitized and cleansed away. In a week no one will know anything other than what the propagandists want you to know. Bush has mishandled this, but his worst mistake is in not wanting to state clearly what happened and who was responsible. The people responsible are going to re-write history, and if he or McCain don't find the courage to speak the truth clearly, the re-writers of history will win.
The same thing happened towards the end of Clinton’s second term. New administrations want to clear the decks and get the recession out of the way before the midterms elections. We should have seen this coming.
He is an ex-banker.....anything he proposes will not go against them. And it should, as they created this mess, hand in hand with lax regulations and oversight.
He should be FIRED! But as usual nobody has any balls to do it!
I’m sure someone will correct me if I’m wrong, but aren’t all the men mentioned democrats? Throw in the transporatation secretary after 9/11 and that’s 4 failed democrats in a republican administration. It concerns me McCain has said he wants to bring democrats into his administration also if he wins.
Fugly Newt? Really?
I guess I don't keep up on who is boinking whom in the world of politics.
Damn...I've lost just a little more respect for females. Wait...he was tapping the chick interns, right?
Well, hold on Newt.
This is an opportunity for conservatives to stand athwart history and yell “Stop!” as the late great Bill Buckley would say.
And that is just what happened today, didn’t it?
I prefer to see the glass half full—and if the majority of representatives (Democrats and Republicans) who said “no” today—those 228 or whatever it was—can craft something more akin to a free market solution, then we know Bush will sign the bill.
Newt is a bit too pessimistic, methinks.
I haven’t had any respect for Gingrich since the impeachment debacle. Was he being blackmailed, intimidated or simply not up to the job. inquiring minds want to know.
AAARRRRRRRRRRGGGGGGGGGGGHHHHHHHHHHHHH
$700B Bailout - Newt Gingrich’s Solution: Workout Yes, Bailout No
http://www.youtube.com/watch?v=COEfYDvY9ps
Yep. Ilive in Florida and work in the oilfields in Louisiana. I am chief mate on an oil drilling ship. At work on my off time I listen to XM all the news and finance and talk shows. My analysis is that tv is psychopoliticalbabble. Radio is the voice of the people. Now..We MUST let the market correct with no government intervention. We will take a hit like a CAT 5 hurricane. BUT if we all work together it will be BOOM time in 2010. The people are on this and ready no matter what. STOP the New World Order Ponzi now!!!
I agree. Bush brought the New Tone, and it was like going into a men's prison dressed in high heels and short shorts. They saw him coming, and the metaphors available are numerous. The first thing he needed to do was fight back one or two early issues, and make them earn his respect. We have come to believe that the President deserves respect, simply because he is the President. That was true when Bill Clinton asked Monica to crawl around under his desk. He WAS the President.
So, Bush thought he would get default respect, but nothing could be further from the truth. I support him, and I laud his efforts in the Greater War against Islamic militancy, but at home, he let himself be abused by lesser people than himself.
Newt, however, did some damage of his own. He folded like a cheap lawn chair when the Dems came after him. He is just as guilty as Bush, although I laud him for the 94 congressional elections.
Newt/Pelosi ?
Three?!! Really?
Actually, it was the Federal Reserve (via the Greenspan put) and the lack of control of the money spigot that caused our current predicament more than anything else.
You are exactly right. Gingrich is a fraud, a phony, and an egomaniac whose egomania is extreme even in a profession dominated by egomaniacs. He is also, as his adulteries make clear, a moral reprobate.
I’ve been keeping this inside for so long...
I HATE Bush; I only voted for him because he had the guts to do what was right. I don’t think he’s stupid, but he’s so arrogant that he could give Obama lessons. That arrogance has caused him to become grossly incompetent.
You have no idea how distasteful it was for me to pull the lever for him in 2004...
...and after supporting the bailout, I’m having my doubts about McCain too...
Hard to run when you can't keep your pants on and a man running without pants is comical at best.
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