Last Monday, CNBC aired a recent interview (with a transcript) of former President George W. Bush by Larry Kudlow. The interview focused on George W. Bush’s recently published book (“Decision Points”) and the Financial Crisis of 2008-2009.
I found various comments by George W. Bush to be interesting. In many instances I disagree with what he said. For now, I will briefly highlight a few items and may extensively comment about this interview later.
Particularly notable is George W. Bush’s comments about TARP, interventions, and government involvement.
However, two of his phrases really stand out above all others. I find them of the utmost importance. The first is:
“I had to abandon free market principles in order to save the free market system.”
The second is (with regard to the need for action during the Financial Crisis):
“…there’s not a lot of time for theoretical debate.”
A Special Note concerning our economic situation is found here
SPX at 1189.40 as this post is written