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GLENN: Okay. First of all, I think he's lying on the last line, but let's start at the beginning on that. This is insanity. Start with Candy Crowley's question to him.
VOICE: You can't be the President that oversees the collapse of the auto industry in the U.S.
GLENN: Stop. Who the hell what? "You can't be the President that, you know, was responsible or was in office during the collapse." What do you mean you can't be the President? What kind of question is that? This is why politicians make mistakes. This is why politicians sell things out because the media is there -- well, most of the time. The media is there and the historians are there with their agenda to blame it on somebody and they always -- well, almost always -- get it wrong. "You can't be the President that was in office for the collapse of the auto industry." No, he doesn't want to be the Herbert Hoover. They've got Herbert Hoover all wrong. You can't be the Herbert Hoover who did nothing. No, Herbert Hoover did too much. He played the middle ground. George Bush is Herbert Hoover. He did a little of this and a little of that and he's discredited capitalism, the free market system, and he has discredited in his actions conservative values and economic principles. He's discredited the Reagan idea because there are a lot of people that they don't care about the facts. They will just look at him and say, "Well, it was a Republican that had this in office," and they won't even, because nobody does their homework, nobody will see this started a long, long, long time ago. This started in the 1970s. This housing bubble is really the dot-com bubble.
Okay. So first, first line out of the mouth of this audio is why would we -- why do we expect different results when somebody can't think long term because all they have to think about is the next election, all they have to think about is their legacy. And personally I don't think that -- I don't think George Bush was thinking about his legacy because he's not a legacy kind of guy. He's just not like that. That's the one thing I do believe George Bush believes that he has done the right thing. I believe he has made some compromises and some sacrifices in the things that he believes, but that's politics. But I do believe he believes in his heart, especially with the war, that he's done the right thing. He doesn't care. He's told me. He doesn't care if he's the most hated President for the next 50 years, which, he will be.
All right. So now what's the next line?
PRESIDENT BUSH: Well, I obviously have made a decision to make sure the economy doesn't collapse. I've abandoned free market principles to save the free market system.
GLENN: Stop. I have obviously made a decision to make sure that the market doesn't collapse, or the economy -- did he say, could you go back? Did he say market or economy?
PRESIDENT BUSH: Make sure the economy doesn't collapse.
GLENN: Yeah, okay. Remember, remember when I said this economy is on the verge of collapse and everybody was saying, "Oh, you're crazy, economy's on the verge of collapse, that doesn't happen." Here he is. "I've obviously made a decision to make sure." This is him stating the economy was headed into the side of a mountain and was going to be wiped off the face of the Earth and he made a decision to make sure that you brought the plane down in the trees instead. But what was his next line after that?
PRESIDENT BUSH: I've abandoned free market principles to save the free market system.
GLENN: Stop. I am fighting cancer with cancer. I have abandoned free market principles to save the free market system. That doesn't make any sense whatsoever. How can you possibly think that makes any sense? It doesn't make any sense, especially when you haven't put any caveats or Sunsets on it. If you haven't come to the American people and said, "And by the way, we're going to do this but it's only this amount and it's only for this period of time." You are never going to get this power back. You are never going to get this money back. You are intentionally designing the end of the free market system in America because you're not going -- especially with the people coming in. I'm fighting -- you know, I know the body has cancer and that's why I've used cancer to solve it. You know, I look at these stories today about, you know, the different cities that are collapsing in California, the states that are having problems, and every single person says, "We've got to spend more money." Let me ask you honestly, at what point does common sense stop? At what point does common sense stop? How big do you have to be before those rules don't apply to you anymore? I mean, we see it that in business it doesn't matter if you're Wal-Mart, the biggest store in the world. You still have to use regular economics to be able to last. So you can be the biggest business in the world and yet the rules that apply to my house still work, all right? How big does the government have to be before all of a sudden those laws just are suspended? In your wildest dreams why are we spending more money? Do you know the size of government is up 25% from last year? 25%, before the bailouts began? In what world does this work? Here's his next phrase.
PRESIDENT BUSH: What people review has taken place in the last six months and put it all in one, you know, in one package, they will realize how significant that we have moved.
GLENN: Stop. Stop. When people review what's happened in the last six months, they will realize how significantly we have moved. Not a truer line has been stated. Capitalism, as you know it, the free market system as the world has looked to America to be that benchmark is dead. It is no longer what it was six months ago. Now, how do you get it back? This is the first time that I have heard anyone say, and without criticism here, without even a followup question of, "What does that mean? How far have we moved? How do you plan on getting it back?" There is no one standing up for the free market system. In our system not a single person has stood up, not a single person has stood up and said, "Free market system, how are we going to save it." They're saying they are going to save it by destroying it. Let's wrap this up with the rest of his audio.
PRESIDENT BUSH: And I'm so sorry we're having to do it. I'm not real happy about the fact that there have been excesses in the financial markets which are affecting our working people and affecting the retirement --
GLENN: Stop. Once again let's blame it on Wall Street, which I have no problem doing. Don't get me wrong. Wall Street and big business has had excesses. But what about the blame for the Fed? What about the blame for the people that said we can solve the dot-com bubble, by printing more money, by making it easier for people to get loans. We can solve the September 11th bubble by saying to people, "Go out and shop and run up bills, go put stuff on your credit card. Do the American thing." What about the blame for the people who said "Go buy a house at any cost. Let's get people who don't even have a citizenship, any kind of ID, any W-2, any tax form to prove that they have actually made this money," what about the blame that goes to those people and the excesses that those people have engaged in? Where is the blame for the people in Washington? I'm not -- look, I have never, ever said on this program "It's time to point the finger." I have always said on this program, "It is time to solve the problem." I don't care whose fault it is. Solve the problem. We've got to be problem-solvers. I don't care whose fault it is. That has always been my mantra. But you know what? There comes a time when you have to say who the hell is responsible for this. And I'll tell you who's responsible for it: Government, first and foremost. Government is responsible for this. The Fed is responsible for this. The congress, both sides. The President. The last President. They are responsible for this, and they're very sorry that the greed on Wall Street has caused pain. When will there be an investigation by the people in congress? Barney Frank, Christopher Dodd and George Bush? When will there be an investigation by the people you notice they are not even looking at the greed and excess of members of their own parties, members of congress. You want to talk about Marie Antoinette "Let them eat cake," you want to talk about setting up 18th century France, here we are, gang. Look at these people. They'll blame it on everybody else, but apparently no blame runs to them. Well, how could we possibly fix it? When we have Blagojevich sitting there in Illinois and because the politicians don't want to take him on, they go to the court and say, "You should remove him because he might be unstable. He's insane. He's a crazy person." Now, why would they do that? Why would any politician want to go to a court and give them the power to remove somebody from office who just needs to be impeached, why would they go and say, "He's unstable, he's not fit to hold office," and try to get him a medical excuse to get him out? Because no one has clean enough hands to go after him.
I'm going to tell you about a conversation I had yesterday with a really quite famous Chicago businessman yesterday and I said -- he told me stuff that would turn your hair white. I said, would you say any of this stuff on air? He said, "Oh, in Illinois? No, no. But I'll point you in the right direction." Everybody's hands are dirty out there. Well, how are you going to solve it? How are you going to solve it when nobody will say anything because they're in on it? How are you going to solve it when the President of the United States or the future President of the United States -- and I don't think he was involved per se in this, but Rahm Emanuel, now we find out, has 21 phone conversations on record with the FBI now, 21 recorded phone conversations with the governor's office. I thought nobody in the office spoke. How do you expect to solve it when the New York Times is reporting that Barack Obama came from this cesspool, came from this group in Chicago and Illinois, but, quoting the New York Times, escaped without any mud on him. Let me ask you this: How do you do that? How do you climb out of a dirty tub without any of the film on you? How do you climb into that tub, become successful in that group of people, climb out of that with those people's support and yet you're a reformer and you're not dirty at all? Somebody help me make sense of that because that's making as much sense to me as, "Hey, honey, we're flat broke; let's go shopping. That will pull us out."