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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Oct. 17, 2008

As a strong believer in free markets, I would oppose such measures under ordinary circumstances. But these are not ordinary circumstances. We took this measure as a last resort."
— President Bush, Oct. 17

By Editor  |  October 17, 2008; 6:59 PM ET
Categories:  Quotables  
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*We took this measure as a last resolt*President Bush,Oct.17

There is always resort in Democracy.Solutions,in Democracy,never end.

Stock.Although futures indicate higher kick off,Dow Jones may close in negative territory.

Posted by: Halozcel | October 20, 2008 9:27 AM | Report abuse

Bernanke says,*Consideration of new stimulus package will be appropriate*

Very good news for stocks,but I insist negative prediction today

Posted by: Halozcel | October 20, 2008 10:09 AM | Report abuse

If 'extraordinary' circumstances required partial nationalization of US banks as claimed by Bush administration, one would hope that Republicans would have courage to acknowledge that even more dire circumstances had required 'new deal' measures by Franklin Roosevelt administration in 1930s. Republicans should also be humble enough to acknowldege the failure of their 'free market mantra' that brought this nation to near repeat of 1929's great depression.

Posted by: simple simon | October 20, 2008 2:18 PM | Report abuse

Yes, most Presidents need to spend a trillion dollars all of a sudden. It's in the office cash drawer. The Bush administration wasn't caught napping or anything. This is just the way a well-managed economy works.

Posted by: Gene Venable | October 20, 2008 5:04 PM | Report abuse

The systematic deregulation of the financial system is the sole cause of the financial crisis we are in. Had not the Glass-Stegall Act not been revoked, had not McCain's financial adviser, Phil Gramm not snuck a late night amendment preventing the government from regulating the subprime mortgage securities instruments we wouldn't be in this mess. This is the free hand of capitalism at its very worst, we should never again trust greedy Wall Street executives and brokers to self-regulate themselves, it's against their human nature.

Posted by: taxpayerloser | October 21, 2008 2:09 PM | Report abuse

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