President Bush warned Tuesday that failing to pass a financial rescue plan would bring severe consequences to the U.S. economy. "Congress must act," he declared in an appeal that John McCain and Barack Obama echoed.
Bush also warned that, "if our nation continues on this course, the economic damage will be painful and lasting."
I mean I really don't understand how this situation is the peoples fault. These people on Wall Street and all those big banks are the blame for this shhh and we suppose to slide them some money..Wow! And we are over in Iraq helping them rebuilt their country even with the billions of dollars in surplus the company possess.. What's wrong with this picture people, why is it that we help other countries in need but no one is rushing to help us?
Help Big Brother out now!
The President said his administration would work with congressional leaders to get the defeated $700 billion relief package back on track. The House voted 228-205 Monday against the bill designed to stabilize a reeling financial system. That triggered the biggest one-day sell-off on Wall Street since the 2001 attacks, as the Dow Jones industrial plummeted by 778 points. Both McCain and Obama called on lawmakers in their parties to stay at work until an acceptable plan is assembled. "Because the government would be purchasing troubled assets and selling them once the market recovers," he said, "it is likely that many of the assets would go up in value over time. Ultimately, we expect that much - if not all - of the tax dollars we invest will be paid back."
So here we go again... This crisis began with companies gambling with their money and now the government will gamble the tax payers money to help them in hopes of helping us in the end... Please help me to understand this method?
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