Bush and the bailout: Which is less popular?

What could be lower than President Bush's approval rating?

Support for his solution for the nation's troubled economy.

And the gap between the two is getting wider.

Rasmussen Reports, which produces daily public opinion tracking polls, said on Monday that 28% of those surveyed supported Bush's $700-billion bailout for some of the nation's major financial institutions. That is even less than the percentage -- generally in the low 30s -- who approve of the job the president is doing.

But the polling organization reported this morning that now that those being polled know a little more about the plan, the support has dropped -- to 25%.

It found that 44% oppose the rescue measure -- that's up 7 points from Monday -- and 31% are undecided, down from 35% on Monday.

The president himself exuded confidence that Congress would approve the plan -- and that it was the right one, "a robust plan to deal with a serious problem."

Speaking at a photo op at the start of a meeting in New York this morning with President Asif Ali Zardari of Pakistan, Bush said congressional leaders from both parties wanted "to get something done quickly."

He added:

Now, there's a natural give-and-take when it comes to the legislative process.  There are good ideas that need to be listened to in order to get a good bill out that will address the situation.  But I'm confident, Mr. President, and as I've told you and other leaders, that there will be a bipartisan bill, that the Republicans and Democrats will come together to get this piece of legislation passed, which is necessary to address the financial situation and provide a rescue plan to make sure that there's some stability in the markets.

-- James Gerstenzang

Photo: Pablo Martinez Monsivais / Associated Press

Comments

[T. Benoi]

Why is the Government really so involved in the mortgage industry?? Why are they in such a rush to bail out private companies and give nothing for the American people??

THIS IS WHAT THE AMERICAN PEOPLE ARE NOT BEING TOLD.
THE REST OF THE STORY.

WASHINGTON, Oct. 23 /PRNewswire-FirstCall/ -- Fannie Mae today announced that it will conduct cash tender offers for the repurchase of up to $21.04 billion of callable debt securities during the week of October 23, 2006. (These were mostly home mortgages packaged as securities)

Merrill Lynch Government Securities Inc. handles the sale of our Governments securities. They also handled the above sale to foreign companies, banks, investors and yes Governments (many of which hold hostilities towards the United States). They were sold “secure as Government securities, which pay better.” It doesn’t stop there; they also brokered the same deals for many other companies, of which you have seen on your local or national news recently. This practice is still taking place as we speak.
CHINA had been purchasing these securities to the tune of over eight hundred billion dollars. Many other Asian countries followed. Looking at what took place in France calling in the securities they purchased, which caused mortgage interest rates in this country to skyrocket, so they could be paid. Seeing where some countries such as Germany hardly got paid at all. CHINA has cut almost all purchases of these securities. Other Asian countries such as Japan have followed. This prompted the companies who were relying on these sales to end up in their current state. Now our Government is scrambling to pay off foreign Governments. Yes that is why they want the money now, no questions asked. If you want to know where this bail out money will end up, simply look at the bottom of almost any product and you can find the answer. Can you see how certain Americans have found a new way of pissing off the rest of the world?

It is solely the fault of the companies and agencies that were not satisfied with the profit from mortgage interest. The decision basically to Re-Sell American homes (mortgages) to foreign countries packaged as securities are at fault. President and COO: Gregory J. (Greg) Fleming of Merrill Lynch Government Securities Inc. is one of those decision makers. Fed. Chair. Bernanke was a deciding factor within our own Government; however, with the recent involvement of many Government personnel it is obvious it all stacks much higher.

So what can you do? If this crisis affects you and you want to do something about it you might want to start here. Requests for documents should be directed to D.F. King & Co., Inc., the information agent for the tender offers, on (800) 207-3158 or (212) 269-5550, or Dexia Banque Internationale a Luxembourg, the Luxembourg information agent for the tender offers, on (352) 45 90 1. (#’S not verified and it’s already too late.)

IF YOU WANT TO GATHER A LYNCH MOB AND HANG INDIVIDUALS RESPONSIBLE YOU MIGHT WANT TO START HERE.

President and COO: Gregory J. (Greg) Fleming of Merrill Lynch Government Securities Inc.

Fed. Chair. Bernanke

PESONALLY I AM GOING TO SIT BACK AND WATCH IT ALL ON THE 6:00 NEWS…



GOOD DAY.