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White House Schedules Call With Financial Services Lobbyists

The White House has planned a 2:30 p.m. ET conference call today with jittery financial services lobbyists to give them more details on President Bush's thinly-worded Rose Garden address this morning aimed at calming the nation's collective anxiety attack over the economic meltdown. It was Bush's first national address on the crisis since signing into the law the $700 billion bailout bill.

As Bush said this morning, "anxiety feeds anxiety." And among the most anxious in Washington are representatives of the securities, investment, insurance and banking industries who feel they haven't gotten enough information from the Bush administration.

One lobbyist who will be joining the White House's afternoon conference call tells the Sleuth, "There is a lot of uncertainty about what the government's next steps are. I hope they will pull back the curtain and remove the uncertainty."

Pierce Scranton, chief of staff to the president's Council of Economic Advisers, is listed as the main speaker on the conference call.

By Mary Ann Akers  |  October 10, 2008; 11:00 AM ET
 
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Comments

Bush has zero credibility left and everytime He speaks the Markets tumble again. Paulson, Berneke and Bush have all used up any trust that They even know how to solve a probem of not enough paper clips in Their Own Office, let alone the disaster They created along with Guru Greenspan. Move Them out of the way and put real People in charge, Their making things worse.

Posted by: MikeL | October 10, 2008 11:30 AM | Report abuse

Oh yeah like people are gonna believe anything Bush says now?I mean what would this be? Lie #798,555,551?

Posted by: 1 | October 10, 2008 11:47 AM | Report abuse

And this coming from the man who was a catalyst in breaking the backs of citizens with Regulation, Tax breaks to the few, and oil prices that conveniently were out of this world until the political season began! Look at his private financial matters-he bankrupted those too-fact! He could care less about you. He's more worried about his money & his legacy!

Posted by: solsenz | October 10, 2008 11:53 AM | Report abuse

Bush should refrain from speaking to the public. He brings anything but confidence to the market. It would be best for the American public if he goes back to his Crawford ranch and stays. If he doesn't leave then impeachment proceedings should begin.

Posted by: Tyler | October 10, 2008 12:18 PM | Report abuse

The sooner Bush and his wall street advisors leave the better. What credibility does he have left? The last eight years have been lies, lies, and more lies,,, Ask yourself, Do you feel better now then you did four weeks ago or four days ago? I think divesting Social Security into the stock market would have been a REALLY GREAT idea now! The fox and wolves were allowed in the chicken coop and look what has happened..
You want to talk about hard times, come to OHIO, 650,000 jobs lost the last eight years, and Ohio elected him! my OH my........Like Hoover, Coolidge and Harding...... bye bye Republican Party.........BUT, don't despair, we can always go moose hunting in Alaska for our food when we run out of money.

Posted by: dan from Ohio | October 10, 2008 12:31 PM | Report abuse

For info on how it all began, read the article titled "It's Not Always The Pork. The Cows All Have To Be Fed Too." at http://www.cliffyworld.com/blogs

Posted by: cliffyworld | October 10, 2008 1:54 PM | Report abuse

I wish the candidate would discuss global poverty more. According to The Borgen Project:
$30 billion: Annual shortfall to end world hunger.
$540 billion: Annual U.S. Defense Budget

Posted by: maryna1 | October 10, 2008 2:03 PM | Report abuse

The Facts
· Is Mr. Obama a Muslim?

Mr. Obama has repeatedly denied being a Muslim and has stated at numerous primary events that he is a Christian and “loves Christ”. However, as you will note further on these facts and letter from the Editor, his association and support for Muslim’s is truly unclear.

· Did Mr. Obama fail to hold his hand over his heart at a recent democratic event where the National Anthem was played?

Yes, during a recent democratic hopeful debate involving Mr. Obama, Senator Clinton, Gov Richardson, and Ruth Harkin he was photographed failing to show the flag of the U.S. respect by holding his hand over his heart for the playing of the National Anthem. Click here for photo.

· What is Mr. Obama’s race?

Mr. Obama is bi-racial, his father is a black Muslim and his mother is white. However, in most of his activities, speeches, and a myriad of voting patterns he votes primarily as a black centric man.

· Is Mr. Obama “Pro Life or Pro Choice”

Mr. Obama is definitely Pro Choice. He is so pro choice that during his short tenure as the Illinois State Senator he has voted in opposition to several bills aimed at stopping partial birth abortions or live fetuses. For example, Illinois has been wrestling with the Born Alive Infants Bill.

For a complete document with factual examples of Mr. Obama’s voting history please read here

· Who is Raila Odinga and how is Mr. Obama connected to him?

Raila Odinga is the Muslim extremist who recently lost the Kenyan Presidential election to a Christian. Raila is a “paternal cousin” to Mr. Obama and has visited with him in both Illinois and Kenya.

· Who is Abongo “Roy” Obama?

Abongo is Barack’s brother who recently preaches that the “Black man must liberate himself from the poisons of European cultures and western values”

· What exactly is Mr. Obama’s religion?

Mr. Obama belong’s to the Trinity United Church of Christ in Chicago, Illinois. The Church is primarily an African American congregation dedicated to Christian principles with a twist of ALSO pursuing Black ideals and African principles. The following text was sourced directly from Trinity’s website and can be verified by clicking on this link. A video aired on Hannity and Colmes can also be viewed here.


“We are a congregation which is Unashamedly Black and Unapologetically Christian... Our roots in the Black religious experience and tradition are deep, lasting and permanent. We are an African people, and remain "true to our native land," the mother continent, the cradle of civilization. God has superintended our pilgrimage through the days of slavery, the days of segregation, and the long night of racism. It is God who gives us the strength and courage to continuously address injustice as a people, and as a congregation. We constantly affirm our trust in God through cultural expression of a Black worship service and ministries which address the Black Community.

The Pastor as well as the membership of Trinity United Church of Christ is committed to a 10-point Vision:

1. A congregation committed to ADORATION.

2. A congregation preaching SALVATION.

3. A congregation actively seeking RECONCILIATION.

4. A congregation with a non-negotiable COMMITMENT TO AFRICA.

5. A congregation committed to BIBLICAL EDUCATION.

6. A congregation committed to CULTURAL EDUCATION.

7. A congregation committed to the HISTORICAL EDUCATION OF AFRICAN PEOPLE IN DIASPORA.

8. A congregation committed to LIBERATION.

9. A congregation committed to RESTORATION.

10. A congregation working towards ECONOMIC PARITY.”

Posted by: Anonymous | October 10, 2008 2:07 PM | Report abuse

I would very much like to get figures on how much of this sell off is from people shedding stock funds in thier retirement accounts. Does anyone know where they might hold statistics like that? The reason I ask is because I can't imagine that educated investors would be selling stock like this. The P/E ratios are as low as I've ever seen them. I have to believe it is the unfortunately ignorant public driving this. It's Unfortunate for the country, but also for those individuals becuase if that is really what is happening they are trash canning money out of pure ignorance.

The only thing that is going to result in that is more of an inbalance of wealth. I garuantee you that the have-mores are sitting there while the halve-lesses are shedding assets. When it's done the people who have money are going to buy up everything. When it goes back up and over time it always goes back up, all that wealth is going to be in less peoples hands.

And you conspiracy junkies out there don't even start, becuase I don't want to hear it.

Posted by: akmzrazor | October 10, 2008 2:38 PM | Report abuse

Investor confidence in the market can't be restored without a "perp walk", or a parade of "perp walks".

Posted by: Christopher | October 10, 2008 2:58 PM | Report abuse

The Republican / Wall Street platform is simple: Privatize profit and socialize risk.

Heads, the fat cats win, tails, the taxpayers lose.

Posted by: spotfoul | October 10, 2008 4:14 PM | Report abuse

We have a double problem. On the one hand, the issues are so complex that few can follow the logic, never mind come up with solutions. (I have an M.B.A.) On the other, few people trust anyone in leadership who just might understand the problems to find a solution in the best interests of the American people, rather than their own self interest. I guess the only way out is to find something that works to prove to the public what needs to be done. Meanwhile, confidence is totally lacking and the downward spiral is being fed by that fact. A vicious circle.

Add to this that many of the emerging markets, say Dubai, are so new that few of the traders in these markets have survived a major downturn. This magnifies the panic. Under the influence of panic, those who understand it lack the 'teaching moment' for the new generation of traders in the new markets. Again, the only thing which will calm them is the proof of the pudding, but it is hard to get there during panic. Again a vicious circle.

Result, it may be a long time until the markets hit a true bottom. I tell myself every day PATIENCE!

Posted by: Lee in FL | October 11, 2008 2:32 AM | Report abuse

hey President Bush why did'nt you invite
your puppetmaster Rush(soapy)limbaugh!
he been preaching that the poor and acorn
stared this financial mess!and this is the poor man doing,and that this is obama and chris dood and barney franks doing!and
that this is the road to socialism and
markism,ask him is he calling you sir a
markist or a socialist,besides you are
trying to do your job,and I admire that
mr.president!

Posted by: Bo Sturley | October 13, 2008 12:01 PM | Report abuse

We received from Chile via E-Mail news, that these frauds under "Credits Swaps", investments, in the "Private Pension Funds", that represents the retirements funds for thousands of citizens on pensions total as of Sept 30 2008 the sum of $ 16.0 + billions US dls. This is a huge amount, was caused by the "fraud papers traders", turned loose by the Republicans top persons; or the top Authorities may have known and approved these actions??? The word "Insurance" a regulated instruments that should have been supervised, was replaced by the title "Credit Swaps". This was done knowing that in short notice, this economic crisis would damaged many citizens, and United States as whole. I am certain, that such actions, that have now reported from Chile, will extend to other nations and create a Global Crisis of huge proportions. The total amount of "Credit Swaps", exceeds 60 trillion dls that equals to four times the total debt of the USA, or over $ 190,000.00 dls/per capita !!! Astronomical debt now on hand. This is a criminal consensus act of "no regulations", free to damage the National Good Name of the United States, and the rest of the World.

Ben R. Rodriguez MS.

Posted by: Ben R. Rodriguez MS | October 13, 2008 1:23 PM | Report abuse

It is time for true change.

Obama believes more government and tax payer money is the answer. Tax the 5% that provide jobs = less jobs. Easy math folks!

McCain/Palin believe in the ingenuity of the United States people and their abilities.

Don't you believe in yourself anymore? If you really think more government is the answer we are in trouble.


Posted by: Change Time | October 14, 2008 1:46 AM | Report abuse

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