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AIG fiasco – responsibility lies with American electorate voting for an ignorant and inefficient US President - Bush
The 85 billion dollar bailout at the cost of ballooning American budget deficit has America, the champion of the free economy into a socialist country. The Bush Administration and the Federal Reserve has little as choice at this stage.
But if any one has to be blamed for this fiasco for the last eight years, it is the American who acted gullible and elected a president who is a failure in all sense.
George Bush failed to regulate a free economy filled with incompetent business executives and ‘white collar thugs’ ready to rip of the common man in the day light right on the main street.
Key Republicans on Capitol Hill blasted the Treasury Department and the Federal Reserve on Wednesday for orchestrating an $85 billion bailout of insurance giant American International Group, and the White House for not informing them of the plan.
Simply put after all this neo conservative approach, Bush turned America into socialism behind the scene. Democrats blamed the Bush administration for the financial crisis, while the White House pointed a finger at Congress.
The lesson from this should echo in the American voters. If you cannot select the right man or woman for the job, you will suffer. Sadly your children and grandchildren will also suffer.
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