Bush: 'U.S. Government Is Acting'
In remarks just concluded at the White House, President Bush said the economic crisis is being driven by "uncertainty and fear" and has been "deeply unsettling for the American people."
Bush reiterated the actions the government has taken so far -- the $700 billion Wall Street bailout/rescue plan, the Fed's cash infusion, the coordinated rate cut with other countries and so on.
He reassured investors that their savings and checking accounts and CDs are now insured up to $250,000 and that programs exist to "help keep responsible borrowers in their homes."
"The plan we are executing is aggressive, it is the right plan, it will take time to have its full impact. It is flexible enough to adapt as the situation changes and it is big enough to work," Bush said.
The president added that the country will make it through this crisis because, like the country, the American people are "innovative, industrious and resilient."
As the president spoke, the Dow dropped from about 90 points down to about 200 points down.
-- Frank Ahrens
Please email us to report offensive comments.
Posted by: Anonymous | October 10, 2008 10:47 AM
Posted by: JustMe | October 10, 2008 11:03 AM
Posted by: Zeb | October 10, 2008 11:10 AM
Posted by: DC12 | October 10, 2008 11:11 AM
Posted by: DC12 | October 10, 2008 11:12 AM
Posted by: IV | October 10, 2008 11:20 AM
Posted by: jake | October 10, 2008 11:35 AM
Posted by: DAVID,VETERAN | October 10, 2008 1:30 PM
Posted by: DAVID,VETERAN | October 10, 2008 1:33 PM
Posted by: the turk | October 10, 2008 1:51 PM
Posted by: Rooble | October 10, 2008 1:53 PM
The comments to this entry are closed.