After a volatile four days on Wall Street (today looks the same--the Dow fell 200 points in early trading today, but have gone back up to about 22 down), President Bush discussed the economy this morning, first explaining what led to its current state and then defending the bailout plan. He said, "The 21st century global economy continues to be regulated by laws written in the 20th century. Enacting these ideas into law must be a top priority for the next president and the next Congress." He also emphasized patience, "The actions will take more time to have their full impact. It took a while for the credit system to freeze up, it's going to take a while for the credit system to thaw."
Once Again, Bush Tries to Reassure Public About Economy
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"It puts more of a burden on New York — puts more of a burden on 49 other states."
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