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George W. Bush didn't understand economic problems as president
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By Shahram Vahdany
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Bush - ex-speechwriter in new book It seemed like every time President George W. Bush stepped before the cameras during last fall's stock market meltdown, the Dow tumbled.
It's a good thing the public couldn't see what was going on behind the scenes at the White House, according to an insider's account.
Bush is pictured as a desperate, bumbling lame duck with little grasp of the economic turmoil around him in the tell-all book by ex-speechwriter Matt Latimer in "Speech-Less: Tales of a White House Survivor."
Hours before Bush was to give a speech last September outlining the administration's $700 billion plan to buy up troubled mortgages, for instance, Latimer writes that Bush clearly didn't understand his own plan.
"We're buying low and selling high," Latimer quotes Bush as saying over and over in an excerpt posted yesterday on GQ's men.style.com Web site.
"The problem was that his proposal didn't work like that," Latimer noted.
Finally, after some staffers explained to Bush that his mortgage bailout plan included no such likely return, Bush barked: "Why did I sign on to this proposal if I don't understand what it does?" Latimer writes.
Perhaps this wasn't surprising, Latimer suggests, in a White House where one of the top economic advisers was Bush buddy Al Hubbard, who comes off sounding more like Otter in "Animal House."
"The only thing I knew about Al," writes Latimer, "was that he went around putting whoopee cushions on people's chairs in the West Wing." A Bush aide has denounced Latimer's book as an "act of betrayal."
Source: http://www.nydailynews.com/ Recommend this article...
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