Sunday, January 18, 2009

Alan Abelson's Bush Summation: A Classic Quote

Speaking on the subject of Cheney coming out from underneath his rock, and Bush himself hitting the talk show circuit to spin his legacy, Alan Abelson wrote in this week's edition of Barron's magazine, and I quote:

"His message was straightforward, consistent and clear: Thanks to his vigilance, this nation was spared a terrorist attack after 9/11. And so it was, for which we are all profoundly grateful. And only the most vehement Bush-basher would sniff that the real reason for the absence of an attack was that Mr. Bush did such a thorough number on the country all by himself that the terrorists figured, why bother?"

This is one of the most profound (and funny) words I've ever read in Barron's. I wish I had written them myself!

Along with congratulating himself on preventing another terrorist attack, Bush feared (and scarily almost implied) another attack is coming...real soon. Leaving office as he began ("fear" being the key word here) those of us who believe Bush and his buddies had something to do with 9/11 wish the earlier investigations on the attack had been allowed to conclude unimpeeded. We'll never know the true story of the flight the Bush White House authorized and organized for the Saudi Arabians to leave the country during the air-space lockdown after 9/11. We'll never know exactly who was on that plane, nor what their connections were to the Saudi hijackers (that's right fans, the hijackers were Saudi, not Iraqi). We'll never know the true story about the big money that sold short on the S&P500 and S&P Transportation indexes in the 4 days prior to 9/11 (and thus made billions when the markets reopened sharply to the downside), the volume of which was exponentially higher than normal. That is, someone new about the attacks and profited handsomly. Bush initially refused to investigate. When the widows of 9/11 protested, he appointed some buddies and began an investigation on the matter. In spite of his buddies, when the investigation started to lead toward the Carlyle Group (among whom the largest shareholders were Bush senior and his buddy the King of Saudi Arabia), the investigation was halted and covered up. We'll never know who made those short sales and how much money they made (no wonder Bush was in such a hurry to get the NYSE open after the attacks, the shorts had to unwind in order to reap their profits). One thing for sure, had we hired a special prosecutor for those cases, and had the American press and Congress pushed the issue as they should have, Bush would have been impeached and all the misery that followed perhaps avoided.
So, goodbye George W. Bush. And good riddance.
Funny how adding a middle initial to a name is supposed to be make the person more impressive. Never worked on me with Bush. I hear "W" and I just cringe. I was much more impressed with plain ole Bill Clinton (no initial).
So, if the perpetrators (including bin Laden, supposedly...) got away with the first attack, it wouldn't be hard to strike another blow. In spite of all the red ink that the American government bled under Bush, we have nothing to show for it (that is, no secured borders and ports). My question now is, given the state of the US economy and our financial turmoil, what would the impact be of another terrorist attack on the equity markets now? By playing straight into the bin Laden's hand after 9/11 and declaring war on Iraq (kind of like the US attacking Australia after the Japanese bombed Pearl Harbor for all the logic involved), not only is the US much less safe now than we were before 9/11, our economy and financial markets are now in a much weaker state to recover from a terrorist attack of substantial magnitude. Besides, if the Carlyle Group and other "inside" people really were responsible for the 9/11 attack - how can that be stopped if they decide to do it again? Since they weren't investigated after the first attack, it appears that Congress has given "them" the go-ahead for a repeat performance.
And if that isn't enough to worry you, peak oil is looming in the background. The problem there, of course, is that current low oil and gasoline prices encourage more oil addiction.
But enough of Bush all my worries. Let's give Obama his day in the sun and feel sorry for the man as he steps in to clean up yet another Bush family's disastrous policy and economic legacy (as Clinton had to do for Bush #1). Lest anyone believe I won't criticize Obama, let me just say that I am totally disgusted with his pick of Ms. Shapiro to lead the SEC. Also, if Obama doesn't put a major emphasis on US natural gas powered transporation in his infrastructure and stimulus plan I'll be all over him. For now though, welcome Barack Obama, Mr. President. Good luck!


Anonymous said...

Not to worry, Fitzman. Somebody out there is reading your commentary. And in this case, I totally agree with your summation of the damage that Bush (don't forget Cheney) and the Carlyle Group have done to the concept of American political and business leaders that people outside your country have of them. What is really worse is that you let them get away with it. You understand what I'm saying?

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