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Bill Clinton: Economy Will be OK, Even if Banks Nat'lized
The Hill ^

Posted on 02/24/2009 9:41:44 AM PST by Sub-Driver

Bill Clinton: Economy Will be OK, Even if Banks Nat'lized @ 12:16 pm by Michael O'Brien

Former President Bill Clinton said that though he believes the Obama administration does not want to nationalize the banks, the U.S. economy will be fine, even if the administration should have to resort to such a measure.

"It's clear that the Treasury Department and the White House don't want to nationalize the banks," Clinton told CNBC's Betsy Quick in an interview aired in portions this morning. "They apparently believe that if the banks are nationalized they will be worthless to the investor, and therefore, they're getting out now."

"I take the administration at its word: they are doing everything they can to avoid having to do a takeover of the very largest banks," he said. "The point I want to make to everybody is: whatever happens, we'll probably be alright, as long as we deal with it this year."

Clinton praised the Obama administration's plan as thoughtful and pragmatic, and also touted the work of Federal Deposit Insurance Corporation (FDIC) Chairwoman Sheila Bair.

Clinton emphasized that the method the administration adopts to assist the banks is not as important as the administration taking decisive action to help the economy this year.

"Nobody thinks the federal government will be the banker of America in the long run," the former president and husband of Secretary of State Hillary Rodham Clinton added.


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: banking; bho44; nationalization; x42
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Ugh.......
1 posted on 02/24/2009 9:41:44 AM PST by Sub-Driver
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To: Sub-Driver
...considering this mess rests solely on his shoulders.
2 posted on 02/24/2009 9:42:42 AM PST by Vision ("Test everything. Hold on to the Good." 1 Thessalonians 5:21)
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To: Sub-Driver

It ain’t just about the economy Billy Bob ... it’s about preservation of capitalism and limiting the role & scope of gubbmit. But then, he already knew that.


3 posted on 02/24/2009 9:42:45 AM PST by mgc1122
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To: Sub-Driver

Oh, well. I feel fine now.


4 posted on 02/24/2009 9:43:15 AM PST by Dahoser (America's great untapped alternative energy source: The Founding Fathers spinning in their graves.)
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To: Sub-Driver
I actually miss Bill Clinton.

At least the job of President wasn't above his pay grade.

5 posted on 02/24/2009 9:44:09 AM PST by Lazamataz ("We beat the Soviet Union, then we became them." -- Lazamataz, 2005)
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To: Sub-Driver

**** *** CLINTON!!


6 posted on 02/24/2009 9:44:14 AM PST by theDentist (Qwerty ergo typo : I type, therefore I misspelll)
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To: Sub-Driver
Gee, I'm really reassured when the renowned pathological liar tells me all will be well.

Kurry called him an “exceptional lair”.

He still is an “exceptional liar”.

7 posted on 02/24/2009 9:44:44 AM PST by nmh (Intelligent people recognize Intelligent Design (God).)
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To: Sub-Driver
"As a globalist, [Bill] Clinton promotes "multipolarity" – the doctrine that no country (such as the USA) should be allowed to gain decisive advantage over others."

From a 2003 Washington Post article:

"...a statement [Bill] Clinton made in February 2002, in which he told an audience in Australia, 'This is a unique moment in U.S. history, a brief moment in history, when the U.S. has preeminent military, economic and political power. It won't last forever. This is just a period, a few decades this will last.'

Clinton continued...

'In all probability, we won't be the premier political and economic power we are now' in a few decades, he said, pointing to the growth of China's economy and the growing economic strength of the European Union.

Whether the United States maintains its military supremacy, he said, depends in part on how much those other entities invest in their militaries, and Clinton said working cooperatively is essential to U.S. interests.

But he said he did not want to be misunderstood. 'I never advocated that we not have the strongest military in the world...I don't think a single soul has thought I was advocating scaling back our military.'

Source: Washington Post article from May 2003:
http://www.washingtonpost.com/ac2/wp-dyn?pagename=article&node=&contentId=A62253-2003Apr30&notFound=true

or find his remarks here (Talon News):
Clinton Predicts America's Decline:
http://mensnewsdaily.com/archive/newswire/nw03/talonnews/0503/newswire-tn-050503d.htm

"'We like your president. We want to see him reelected', former Chinese intelligence chief General Ji Shengde told Chinagate bagman Johnny Chung. Indeed, Chinese intelligence organized a massive covert operation aimed at tilting the 1996 election Clinton’s way."

The Idiot's Guide to Chinagate
By Richard Poe
May 26, 2003

CHINA WILL LIKELY replace the USA as world leader, said Bill Clinton in a recent Washington Post interview. It is just a matter of time. Clinton should know. He has personally done more to build China’s military strength than any man on earth.

Most Americans have heard of the so-called "Chinagate " scandal. Few understand its deadly import, however. Web sites such as "Chinagate for Dummies" and its companion "More Chinagate for Dummies" offer some assistance. Unfortunately, with a combined total of nearly 8,000 words, these two sites – like so many others of the genre – offer more detail than most of us "dummies" can absorb.

For that reason, in the 600 words left in this column, I will try to craft my own "Idiot’s Guide to Chinagate," dedicated to all those busy folks like you and me whose attention span tends to peter out after about 750 words. Here goes.

When Bill Clinton took office in 1993, China presented little threat to the United States. Chinese missiles "couldn’t hit the side of a barn," notes Timothy W. Maier of Insight magazine. Few could reach North America and those that made it would likely miss their targets.

Thanks to Bill Clinton, China can now hit any city in the USA, using state-of-the-art, solid-fueled missiles with dead-accurate, computerized guidance systems and multiple warheads.

China probably has suitcase nukes as well. These enable China to strike by proxy – equipping nuclear-armed terrorists to do their dirty work, while the Chinese play innocent. Some intelligence sources claim that China maintains secret stockpiles of chemical, biological and nuclear weapons on U.S. soil, for just such contingencies.

In 1997, Clinton allowed China to take over the Panama Canal. The Chinese company Hutchison Whampoa leased the ports of Cristobal and Balboa, on the east and west openings of the canal respectively, thus controlling access both ways. A public outcry stopped Clinton in 1998 from leasing California’s Long Beach Naval Yard to the Chinese firm COSCO. Even so, China can now strike U.S. targets easily from their bases in Panama, Vancouver and the Bahamas.

How did China catch up so fast? Easy. We sold them all the technology they needed – or handed it over for free. Neither neglect nor carelessness are to blame. Bill Clinton did it on purpose.

As a globalist, Clinton promotes "multipolarity" – the doctrine that no country (such as the USA) should be allowed to gain decisive advantage over others.

To this end, Clinton appointed anti-nuclear activist Hazel O’Leary to head the Department of Energy. O’Leary set to work "leveling the playing field," as she put it, by giving away our nuclear secrets. She declassified 11 million pages of data on U.S. nuclear weapons and loosened up security at weapons labs.

Federal investigators [Cox Report] later concluded that China made off with the "crown jewels" of our nuclear weapons research under Clinton’s open-door policy – probably including design specifications for suitcase nukes. Meanwhile, Clinton and his corporate cronies raked in millions.

In his book The China Threat, Washington Times correspondent Bill Gertz describes how the system worked. Defense contractors eager to sell technology to China poured millions of dollars into Clinton’s campaign. In return, Clinton called off the dogs.

Janet Reno and other counterintelligence officials stood down while Lockheed Martin, Hughes Electronics, Loral Space & Communications and other U.S. companies helped China modernize its nuclear strike force.

"We like your president. We want to see him reelected," former Chinese intelligence chief General Ji Shengde told Chinagate bagman Johnny Chung. Indeed, Chinese intelligence organized a massive covert operation aimed at tilting the 1996 election Clinton’s way.

Clinton’s top campaign contributors for 1992 were Chinese agents; his top donors in 1996 were U.S. defense contractors selling missile technology to China.

Clinton recieved funding directly from known or suspected Chinese intelligence agents, among them James and Mochtar Riady who own the Indonesian Lippo Group; John Huang; Charlie Trie; Ted Sioeng; Maria Hsia; Wang Jun and others.

Commerce Secretary Ron Brown served as Clinton’s front man in many Chinagate deals. When investigators began probing Brown’s Lippo Group and Chinagate connections, Brown died suddenly in a suspicious April 1996 plane crash.

Needless to say, China does not share Clinton’s enthusiasm for globalism or multipolarity. The Chinese look out for Number One.

"War [with the United States] is inevitable; we cannot avoid it," said Chinese Defense Minister General Chi Haotian in 2000. "The issue is that the Chinese armed forces must control the initiative in this war." Bill Clinton has given them a good start.

The Idiot's Guide to Chinagate:
http://www.richardpoe.com/column.cgi?story=125

or,
http://www.newsmax.com/archives/articles/2003/5/26/214938.shtml
(this version hasn't the necessary hyperlinks, but the above doesn't seem to be available any longer)
_________________________________

Related Stories
Richard Poe, "Chinagate: The Third-Way Scandal" (June 3, 1999)
Christopher Ruddy, "Russia and China Prepare for War: Parts I - VIII," NewsMax.com (March 9 -18, 1999)

8 posted on 02/24/2009 9:44:47 AM PST by ETL (ALL the Obama-commie connections at my FR Home page: http://www.freerepublic.com/~etl/)
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To: Sub-Driver
Bill Clinton...Worst President since Jimmy Carter
9 posted on 02/24/2009 9:44:56 AM PST by 2banana (My common ground with terrorists - they want to die for islam and we want to kill them)
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To: Sub-Driver

The bride at every wedding, the corpse at every funeral


10 posted on 02/24/2009 9:45:12 AM PST by bagman
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To: Sub-Driver

Thanks, Bill, I feel so much better with that coming from you! (sarc).


11 posted on 02/24/2009 9:45:56 AM PST by McKayopectate
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To: Sub-Driver

I am waiting for the MSM to ask Bush 43 about the plan.


12 posted on 02/24/2009 9:46:00 AM PST by kabar
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To: Sub-Driver

As long as he, Hillary and China have a controlling interest.


13 posted on 02/24/2009 9:46:22 AM PST by RckyRaCoCo (I hear the words of Jefferson louder and louder as each day passes)
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To: Sub-Driver
I suspect this will have a good impact on the stock market.

Not.

I'm convinced these idiots really are trying to bankrupt us by talking the market into the toilet.

Thieves and scoundrels, all of them.
14 posted on 02/24/2009 9:46:42 AM PST by Antoninus (License is the ability to do whatever you want. Freedom is the right to do as you ought.)
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To: Lazamataz

Me, too.

Obama makes me long for the days of Clinton.


15 posted on 02/24/2009 9:47:00 AM PST by Retired Greyhound
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To: Sub-Driver
The Five Great Lies (Clinton Version):

I'm from the government and I'm here to help you.

I won't xxx in your mouth. (Only on your blue dress}

Economy Will be OK, Even if Banks are Nat’lized

Welfare check's in the mail

(Insert your own here - no pun intended)

16 posted on 02/24/2009 9:47:22 AM PST by ChicagahAl (Don't blame me. I voted for Sarah.)
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To: Lazamataz

And, Bubba was moderately amusing!

Whether it was taking credits for the efforts of others...

Getting oral favors in his office from a young woman the same age as his daughter...

Parsing his testimony under oath...

Or just plain lying...

Bubba was worth his weight in toilet paper.

What a guy!


17 posted on 02/24/2009 9:48:25 AM PST by RexBeach ("Do your duty in all things." Robert E. Lee)
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To: Retired Greyhound
Obama is an amateur and a pretender. He hasn't got the slightest idea what to do.

Clinton, at least, was reasonably seasoned as an Arkansas governor. He was corrupt, lustful, and probably killed a lot of people -- but he was competent.

18 posted on 02/24/2009 9:49:59 AM PST by Lazamataz ("We beat the Soviet Union, then we became them." -- Lazamataz, 2005)
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To: Dahoser

Me too!

(Rolling my eyes.)

Just like when ole Bill claimed,

“I did not have sex with that woman”.

Well, ole Bill redefined ORAL SEX as not being “sex”.


19 posted on 02/24/2009 9:50:27 AM PST by nmh (Intelligent people recognize Intelligent Design (God).)
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To: Sub-Driver

Bill Clinton, the more he denies it, the more you know it’s true. Dark Days in Monkey City


20 posted on 02/24/2009 9:53:12 AM PST by 1000 silverlings (Everything that deceives also enchants: Plato)
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To: Sub-Driver

He seriously needs to go find some chubby intern, keep himself busy with her, and STFU already.


21 posted on 02/24/2009 9:53:18 AM PST by ScottinVA (Make my world PURRRFECT, Lord Obama!)
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To: Sub-Driver
Economy Will be OK

Democrats have been acting like they believe this with their business-as-usual porkulus. I think they've made a major blunder that will come back to haunt them.

22 posted on 02/24/2009 9:54:21 AM PST by Need4Truth
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To: 2banana
Bill Clinton...Worst President since Jimmy Carter

Barack Hussein Obama....Worst President since Jimmy Carter AND Bill Clinton.

23 posted on 02/24/2009 9:54:41 AM PST by Evil Slayer (Onward, Christian soldiers, marching as to war)
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To: Sub-Driver
This should be good to shave another 100 off the Dow.
24 posted on 02/24/2009 9:56:53 AM PST by colorado tanker ("I just LOVE clinging to my guns and my religion!!!!" - Sarah Palin)
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To: Lazamataz
I actually miss Bill Clinton.

At least the job of President wasn't above his pay grade.

True.

OTOH, Jimmuh Carter is delighted with 0bama.

He's no longer the worst president in American history...

25 posted on 02/24/2009 9:57:37 AM PST by null and void (We are now in day 35 of our national holiday from reality.)
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To: Sub-Driver

I will NOT do business with a bank that is owned in full or in part by the government. PERIOD!

If that means I do my banking from my mattress, SO BE IT!

Time for us to start holding private business accountable for the path we are on. Only they can stop it now by saying no to bailouts.


26 posted on 02/24/2009 9:58:21 AM PST by Safrguns
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To: colorado tanker
This should be good to shave another 100 off the Dow.

I predict the Dow will be under 3000 by mid April.

27 posted on 02/24/2009 9:58:43 AM PST by Evil Slayer (Onward, Christian soldiers, marching as to war)
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To: theDentist
"**** *** CLINTON!!"

I can read asterisk and that doesn't spell "happy birthday".

P.S. My sentiments exactly. For the toon and the zero both.

28 posted on 02/24/2009 9:58:47 AM PST by libs_kma (F.U.B.O.)
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To: Sub-Driver

“Nobody thinks the federal government will be the banker of America in the long run,”

Is that his nose that is growing or is he just glad to see us?


29 posted on 02/24/2009 9:59:26 AM PST by rjones42
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To: Evil Slayer
So far, I'd give the Obamessiah a perfect 100 rating - for getting every call so far wrong. I didn't think it would be possible for that bunch to do this much damage to the economy in this short a time.
30 posted on 02/24/2009 10:00:59 AM PST by colorado tanker ("I just LOVE clinging to my guns and my religion!!!!" - Sarah Palin)
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To: ETL
"As a globalist, [Bill] Clinton promotes "multipolarity" – the doctrine that no country (such as the USA) should be allowed to gain decisive advantage over others."

How well does that work in the real world?

Hmmmm. Unless there is a alpha chicken, the hens will peck each other to death trying to establish a pecking order...

31 posted on 02/24/2009 10:01:13 AM PST by null and void (We are now in day 35 of our national holiday from reality.)
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To: 2banana
Bill Clinton...Worst President since Jimmy Carter

Not any more!

32 posted on 02/24/2009 10:02:03 AM PST by null and void (We are now in day 35 of our national holiday from reality.)
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To: Sub-Driver

So Bim-Billy knows economics?

Riiiiiiiiiiight.


33 posted on 02/24/2009 10:05:53 AM PST by Da Coyote
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To: Sub-Driver

“Bill Clinton: Economy Will be OK, Even if Banks Nat’lized”

And the Healthcare industries, and the Auto companies, and the Energy companies, and the States and cities, and the....


34 posted on 02/24/2009 10:05:57 AM PST by Kent C
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To: Sub-Driver
OH BOY! That statement will make the markets blow and go. Well, maybe I shouldn't have used the word blow while talking about BC.
35 posted on 02/24/2009 10:06:01 AM PST by kempo
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To: null and void

“As a globalist, [Bill] Clinton promotes “multipolarity” – the doctrine that no country (such as the USA) should be allowed to gain decisive advantage over others.”

This is a bunch of crap. The US should be dominant over other countries as it is based on individual liberty. Slick is saying other communist countries should be equal to us. They are not. Globalists want to reduce the field to the lowest common socialist denominator.


36 posted on 02/24/2009 10:06:58 AM PST by Rennes Templar
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To: Sub-Driver

obamas economy plan is like a stalled car if you keep changing out parts at some point in time it will start.


37 posted on 02/24/2009 10:09:19 AM PST by Vaduz
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To: null and void
Unless there is a alpha chicken, the hens will peck each other to death trying to establish a pecking order...

That's just his way of rationalizing a situation where the ChiComs and Russians can gain more power on the global stage. The left-wing demonRats always look out for their international comrades. Nearly every one of their foreign policy decisions, one way or the other, benefit the Russians and/or ChiComs.

38 posted on 02/24/2009 10:14:50 AM PST by ETL (ALL the Obama-commie connections at my FR Home page: http://www.freerepublic.com/~etl/)
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To: Evil Slayer

Index of prices of 421 common stocks:

1929 high=228
1932 low= 38.6

The last time, stock lost over 80% of their value before they found bottom.

Sooooo. What’s 0.17 times the recent DJI peak, Hmmmm?...


39 posted on 02/24/2009 10:14:58 AM PST by null and void (We are now in day 35 of our national holiday from reality.)
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To: All

40 posted on 02/24/2009 10:15:59 AM PST by Evil Slayer (Onward, Christian soldiers, marching as to war)
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To: Evil Slayer

LOL!!


41 posted on 02/24/2009 10:17:58 AM PST by ETL (ALL the Obama-commie connections at my FR Home page: http://www.freerepublic.com/~etl/)
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To: colorado tanker
I didn't think it would be possible for that bunch to do this much damage to the economy in this short a time.

They've been making contingency plans to accelerate every step of America's destruction since, oh, say, 1917.

This is more like that toadstool that spent months or years of growing underground before it "suddenly" appears in your yard.

42 posted on 02/24/2009 10:18:27 AM PST by null and void (We are now in day 35 of our national holiday from reality.)
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To: libs_kma; theDentist
I can read asterisk and that doesn't spell "happy birthday".

I think it's "Love You"...

43 posted on 02/24/2009 10:19:52 AM PST by null and void (We are now in day 35 of our national holiday from reality.)
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To: null and void
This is more like that toadstool that spent months or years of growing underground

And you know what nutrient grows then best. :-))

44 posted on 02/24/2009 10:20:37 AM PST by colorado tanker ("I just LOVE clinging to my guns and my religion!!!!" - Sarah Palin)
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To: null and void

You forgot the /sarc ?


45 posted on 02/24/2009 10:21:12 AM PST by Evil Slayer (Onward, Christian soldiers, marching as to war)
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To: null and void
I think it's "Love You"...

second 1/2 is right

46 posted on 02/24/2009 10:24:14 AM PST by theDentist (Qwerty ergo typo : I type, therefore I misspelll)
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To: Rennes Templar

Yes, as far as it goes. The America of my birth should be the alpha country, for the exact reason you state: it is based on individual liberty.

Even failing that, there needs to be an alpha country to impose order.

Compare a family where if momma ain’t happy, ain’t nobody happy to Lord of the Flies.

Even if momma is a drunken slut, the kids are better off under her than they would be eating each other...


47 posted on 02/24/2009 10:25:43 AM PST by null and void (We are now in day 35 of our national holiday from reality.)
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To: null and void
Insanity is like that...... The individual who believes that things are different than what they are, are easily lead to the slaughter.

In this case, the entire Capitalistic system will be taken down and replaced with a Nationalist Socialism Oligarchy.

48 posted on 02/24/2009 10:28:59 AM PST by PSYCHO-FREEP (WHAT? Where did my tag line go? (ACORN))
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To: ETL
Not my intent at all.

WE need to be the alpha hen.

The alternatives are a truly evil empire or hegemony, or total dog-eat-dog world wide chaos.

49 posted on 02/24/2009 10:29:17 AM PST by null and void (We are now in day 35 of our national holiday from reality.)
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To: Evil Slayer

mmmmmmaybe.....


50 posted on 02/24/2009 10:30:38 AM PST by null and void (We are now in day 35 of our national holiday from reality.)
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