Bush Addresses Steep Market Drop
With the Dow down more than 400 points and investors around the world wondering why the approval of the $700 billion bailout hasn't started to turn around the markets, President Bush today told reporters "it's going to take a while" for the rescue plan to work.
"We don't want to rush into this situation and not have this program be
effective," Bush said after a visit to Olmos Pharmacy, an old fashioned
soda fountain restaurant in San Antonio, Tex.
The Post's Dan Eggen reports that Bush met with a group of small business owners, including an auto repair shop owner and two restaurateurs, after attending a GOP fundraiser in a nearby San Antonio suburb. Bush said the entrepreneurs were being squeezed by the economic problems.
"Its clear that these business leaders are dealing with the credit crunch,"
Bush said. "...Inherent in the strategy of the rescue plan is to free up
credit...But its going to take awhile to get in place."
-- Michael S. Rosenwald
October 6, 2008; 12:17 PM ET
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