Something that goes beyond politics and of interest to everyone in New Zealand and around the world, President Bush addressed us all really about the dour state of America's economy.
His announcement explained the position of the economy and the impacts on it if the US$ 700 billion taxpayer funded bailout of dodgy mortgages fails to go through Congress.
It is vitally important for us all to back this bailout, regardless of your politics.
President Bush on Wednesday said, "Our economy is facing a moment of great challenge. But we've overcome tough challenges before -- and we will overcome this one. I know that Americans sometimes get discouraged by the tone in Washington, and the seemingly endless partisan struggles. Yet history has shown that in times of real trial, elected officials rise to the occasion. And together, we will show the world once again what kind of country America is -- a nation that tackles problems head on, where leaders come together to meet great tests, and where people of every background can work hard, develop their talents, and realize their dreams."
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Full text of George W Bush addressing the nation on Sept 24 2008 Asian Markets mostly down Cincinnati reaction to Bush Address UK reaction Canadian reaction Australia
c Political Animal 2008
President Bush on Wednesday said, "Our economy is facing a moment of great challenge. But we've overcome tough challenges before -- and we will overcome this one. I know that Americans sometimes get discouraged by the tone in Washington, and the seemingly endless partisan struggles. Yet history has shown that in times of real trial, elected officials rise to the occasion. And together, we will show the world once again what kind of country America is -- a nation that tackles problems head on, where leaders come together to meet great tests, and where people of every background can work hard, develop their talents, and realize their dreams." Video (Windows) Presidential Remarks Audio 
I say let the talking heads in Washington and on Wall Street roll, and strip them of their wealth to pay for the bail out!
ReplyDeleteThose that did this dodgy lending should pay for it as well as those who borrowed it in the first place and couldn't pay it back.
ReplyDeleteSeems risk has gone the way of the Dodo.