Bush confident bailout bill will stabilize economy
Posted By ap 1 year, 1 month ago in Business & FinanceWASHINGTON (AP) _ President Bush is urging lawmakers to pass the compromise financial system bailout bill they fashioned in marathon weekend bargaining, saying it is needed to "keep the crisis in our financial industry from spreading" across the economy.
Bush made the statement at the White House Monday morning, seeking to assure Americans that approving his administration's $700 billion rescue plan is the right thing to do.
He spoke amid continued nervousness in financial markets at home and overseas.
Bush argued that jittery U.S. taxpayers will benefit from a number of safeguards that lawmakers wrote into the pending legislation during weekend negotiations on Capitol Hill.
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Cathy95111 year, 1 month ago
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I think the only concern Bush has is that his money is safe. We are in so much trouble, it will take generations to get us out of. I think the moron who claims to be our President, his party, congressmen and Senators, should all get paid that $185.00 that the poor people get a month and make them all live off that! I think he should have been impeached!
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robertsanchez7188 months, 3 weeks ago
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When the banking-system bailout plan - formally referred to as the “Emergency Economic Stabilization Act of 2008? - was originally unveiled, the financial-crisis firefighters at the U.S. Treasury Department were essentially reprising the Florida firefighting strategy. And U.S. taxpayers can anticipate an outcome a lot like the one that afflicted the Coral Gables apartment dwellers.
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Unfortunately for the U.S. taxpayer, there’s no Biltmore in which to seek temporary shelter. There’s only one U.S. economy, and we have to stay in it, whether it’s been condemned or not.
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