He said the government is the only entity that is capable of buying financial firms' troubled assets at their current low prices and holding them until their value returns to normal. He argued that if a bailout is not approved, foreclosures would rise, millions of people could lose their jobs and reminded them that "ultimately our country could experience a long and painful recession."
The economic crisis is almost certain to overshadow the rest of Bush's four months left in office and could hugely impact his legacy.
The economic crisis is almost certain to overshadow the rest of Bush's four months left in office and could hugely impact his legacy.
1 comment:
What a bunch of crap from the same man that scared America into a war with Iraq.
They are talking about a Mortgage back security that no one in government knows how to govern.
That means that our Government will be hiring the very people that help to get us in this mess with their greed.
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