Wooo boy, the banalogies are just flying around today. RedState posted this awesome video which segue ways from Bush's remarks yesterday, to Chamberlain's statement at Munich (though they at least avoid the most cliched moment of Chamberlain saying "We shall have peace in our time") to Obama saying he'd meet with leaders we don't like. Of course, one could make a similar video with the final footage showing Reagan meeting, negotiating, and coming to deals with Gorbachev and the Soviets! Who then subsequently invaded Western Europe (as the neocons feared) because of all that appeasement.
As Matthews pointed out, the difference between Chamberlain and Obama is that the Munich Pact saw Britain and France concede to Hitler half of Czechoslovakia, not that he talked to Hitler at all.