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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (434701)	11/13/2008 12:03:25 AM
From: tejek	Read Replies (1) \| Respond to of 1573930

Thanks for confirming my point. To you and some other liberals, only liberal sources are important, they have to be respected while no one should pay attention to conservative sources at all. Most people, conservative AND liberal, tend not to believe the Nat. Enquirer. However, I have a different view having lived in LA. Its rare these days for the NE to get sued by a celebrity. The NE has become more careful when dealing with famous people. The same can't be said of other tabloids. All of which feeds in to your bias, and takes you further and further from reality. My so called bias re. conservative media is based upon reading the numerous misrepresentations they make on a daily basis. Even the well read NRO in their The Corner will make outrageous claims that are not true. This has been going on for years now.

To: TimF who wrote (434701)	11/13/2008 11:22:43 AM
From: tejek	Read Replies (1) \| Respond to of 1573930

If GOPers would spend less time defending one of their major party platforms, and more time finding a cure for our current economic ills, we'd all be a lot better off. Bush: Intervention not "cure-all" for crisis By BEN FELLER Associated Press Writer (AP:NEW YORK) Asserting the global financial crisis is "not a failure of the free market system," President George W. Bush on Thursday called on the world leaders meeting this weekend to agree on coordinated reforms that wouldn't overreach. "Government intervention is not a cure-all," Bush was to say in New York, according to prepared remarks released in advance by the White House. The president was delivering a vigorous defense of free-market capitalism and easier global trade from the heart of Wall Street, at the venerable Federal Hall that was home to the first Congress and is within shouting distance of New York Stock Exchange. The speech is Bush's attempt to frame expectations for the high-level gathering he's hosting in Washington this weekend aimed at developing a more coordinated world response to the economic woes that have millions of people struggling to keep their jobs, their homes and their hopes. The most severe economic downturn in decades threatens to end Bush's tenure on the most sour of notes before President-elect Barack Obama takes over. Bush is convening representatives of some of the world's biggest industrial democracies, emerging nations and international bodies in Washington. He will host the leaders at a White House dinner Friday and review causes and solutions for the financial mess Saturday. Bush called for reform to the global economy that will strengthen it long-term and said leaders would this weekend "discuss specific actions we can take." He laid out examples of action he would support, including: _improving accounting rules for securities, "so that investors around the world can understand the true value of the assets they purchase." _requiring that credit default swaps be processed through centralized clearinghouses instead of over-the-counter markets. _taking "a fresh look at the rules governing market manipulation and fraud." _better coordinating national laws and regulations between nations. _modernizing the World Bank and the International Monetary Fund, including giving voting power to developing countries, making executive boards more representative and both institutions more transparent and accountable. His main message to the leaders: Reforming financial markets alone won't help if they abandon the free market and restrict trade. "The crisis was not a failure of the free market system," Bush said. "And the answer is not to try to reinvent that system." Bush aggressively defended the U.S. against charges from around the world that insufficient regulation in his country led to the credit collapse worldwide _ his way of pushing back against both the criticism and the calls for more intrusive rules. Heading into the meeting, Europeans are seen as looking more urgently for broad changes and tighter universal banking regulations than is the United States. "Many European countries had much more extensive regulations and still experienced problems almost identical to our own," Bush said. Some critics have said that lax oversight by regulators in the U.S. and elsewhere failed to detect problems and respond with action that could have prevented the meltdown. The crisis began with the collapse of the U.S. housing market, which froze credit, then the broader financial sector and rippled overseas. "History has shown that the greater threat to economic prosperity is not too little government involvement in the market but too much," Bush said. "It would a terrible mistake to allow a few months of crisis to undermine 60 years of success." Dan Price, Bush's deputy national security adviser for international economic affairs, rejected suggestions of discord with other nations and said it was "grossly inaccurate" to suggest the U.S. was not taking a firm lead in reform. "We are no less committed to fixing the problems, and addressing regulatory and other deficiencies, than any other leader," he said. While in New York, the president also was to address a United Nations conference on religious tolerance and meet privately with King Abdullah of Saudi Arabia. The summit is just the first in a series intended to deal with the enormity of the economic meltdown, and the next meeting won't be until after Bush leaves office on Jan. 20. In the United States alone, the nation's jobless ranks zoomed past 10 million last month, the most in a quarter-century, as 240,000 more people lost jobs. In the latest dire sign, American automakers say they are struggling to survive. Obama is steering clear of the summit but will have a couple representatives available to meet with leaders on his behalf. Besides the United States, the countries represented will be Argentina, Australia, Brazil, Britain, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea and Turkey. Those countries and the European Union make up the so-called G-20.