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Bush Insists Bailout Plan Will Work
President Bush used his weekly radio address Saturday to attempt to reassure Americans that the administration’s financial bailout plan will work.
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(October 18, 2008)--President Bush wants to reassure Americans about the financial rescue plan, but he's offering no timetable.
In his weekly radio address, Mr. Bush said, "our economy will bounce back."
He said the actions taken "are big enough and bold enough to work," but warns they will "take more time to have their full impact."
The bailout plan runs counter to Mr. Bush's often-stated commitment to free enterprise.
He said as a strong believer in free markets, he "would oppose such measures under ordinary circumstances, but adds, "These are no ordinary circumstances."
Mr. Bush said the government's involvement is limited in scope, and Washington will not exercise control over any private firm.
He said federal officials will not have a seat on bank boards.
French President Nicolas Sarkozy and European Commission President Jose Manual Barroso will be talking about the economy with the president Saturday at Camp David.
The White House says the meeting isn't expected to produce any new policy decisions, and said it doesn’t have to do with a future meeting between G-8 leaders.
Instead the focus will be on coordinating efforts toward financial stability including such subjects as bank disclosures, accounting rules at credit rating agencies, capital standards and asset valuation.
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Latest Comments
Dave, what is "decidence"? No such word dude. lol
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People are pathetic like kids in a candy store We must go socialist to stop this decidence
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HUSSEIN's bailout will put America into the DEEP DARK ABYSS. He reads and believes in Fareed Zakaria's books, "The Post-American World" & "The Future of Freedom-Liberal Democracy at Home and Abroad". Job creation in America?? Not if you believe these books!! The U.S. Treasury tracks the National Debt and proves there was NEVER A (CLINTON SURPLUS) because the national debt went UP every single Clinton year, NOT DOWN. A "balanced budget" or "budget surplus" is nothing more than a plan on how to spend with expected income. Anyone can present such a budget if they use inflated estimates of income or deflated estimates of expenses...it's called "Cooking the Books", something Fannie and Freddie did for years. Clinton planted the seeds for this finanical mortgage crisis and Demowits Barney Frank and Chris Dodd covered it up. Make sure your berkas are cleaned & open your wallet if DEMONCRAT slitheres into the WhiteHouse. The Dem controlled congress has a 9% approval rating...lower than Bush!!!
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