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For Sale: These United States

Bush, US companies reduced to holding out a tin cup

By Rob Quinn,  Newser Staff

Posted Jan 20, 2008 10:41 AM CST
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(Newser) – Some Americans are outraged about illegal immigrants crossing the Mexican border, but the New York Times' Maureen Dowd thinks that the breech of some financial boundaries are of greater concern. "Who’s going to own the American economy?" she asks, pointing to oil-rich countries taking advantage of the weak dollar to snap up US assets.

Dowd notes that Citigroup and Merrill Lynch have had to beg foreign investors for bailouts and notes that President Bush was holding few economic cards on his Middle East trip. She agrees with Warren Buffett's view that "we are giving ourselves a party to feed our appetite for oil and imported goods and paying for it by selling off the furniture."

President George W. Bush, left, talks with Saudi King Abdullah before their dinner at Al Janadriyah Ranch, Saudi Arabia, Tuesday, Jan. 15, 2008. Maureen Dowd agrees with Hillary Clinton's opinion that it was pathetic that President Bush had to beg the Saudis to drop the price of oil. (AP Photo/Pablo...
President George W. Bush, left, talks with Saudi King Abdullah before their dinner at Al Janadriyah Ranch, Saudi Arabia, Tuesday, Jan. 15, 2008. Maureen Dowd agrees with Hillary Clinton's opinion that...   (Associated Press)
A Wall St. sign is seen in front of the American flag light display at the New York Stock Exchange, Monday, Dec. 31, 2007 in New York. Wall Street's over-reaching means the US economy depends on loads and foreign oil to stay afloat, writes Maureen Dowd in the New York...
A Wall St. sign is seen in front of the American flag light display at the New York Stock Exchange, Monday, Dec. 31, 2007 in New York. Wall Street's over-reaching means the US economy depends on loads...   (Associated Press)
Who's going to own the American economy?, asks Maureen Dowd in the New York Times, concerned about the petrodollars buying up US assets. (AP Photo/Dr. Scott M. Lieberman)
"Who's going to own the American economy?", asks Maureen Dowd in the New York Times, concerned about the petrodollars buying up US assets. (AP Photo/Dr. Scott M. Lieberman)   (Associated Press)
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US • Money • Politics

 
Citigroup • Warren Buffett • Merrill Lynch • US economy • Maureen Dowd • US dollar • petrodollar • weak dollar • George W. Bush

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