Tuesday, September 30, 2008

VIDEO & AUDIO: George W. Bush Address to the Nation, Sept 30 2008

President George W. Bush delivers a statement at the White House Tuesday, Sept. 30, 2008, regarding the economic rescue plan. Said the President, "We're at a critical moment for our economy, and we need legislation that decisively address the troubled assets now clogging the financial system, helps lenders resume the flow of credit to consumers and businesses, and allows the American economy to get moving again." White House photo by Chris <span class= 
Sept. 30, 2008

President Bush Discusses Economic Rescue Plan

      Play Video Video        Play Audio Audio

     Fact sheet In Focus: Economy




George W. Bush spoke the United States (and world) at 7:45 am EST Tuesday morning September 30, 2008.

He again addressed the case for the US$700 billion bailout which failed to pass in the lower house on Monday.

His speech was be important because it is being made to restore faith in global markets and persuade Americans that the $700 billion bailout is going to do what it is intended to do.

Markets hate nasty surprises and uncertainty and his speech will have to be a good one to pull it all off.

While not a spectacular speech by any stretch of the imagination, it was nevertheless competent enough to restore some positivity into the DOW this morning.

As at 7.45 am (NZ time) the DOW was up 379 points.

In my opinion it is unlikely to be a sustained upswing because there is more bad financial news to come.



Related Links

President George W. Bush delivers a statement at the White House Monday, Sept. 29, 2008, on Financial Rescue Legislation. Said the President, "This legislation deals with complex issues, and negotiators were asked to address them in a very short period of time. I appreciate the leadership of members on both sides of the aisle, who came together when our nation was counting on them. Negotiations are sometimes difficult, but their hard work and cooperation paid off." White House photo by Chris <span class= 
Sept. 29, 2008

President Bush Discusses Financial Rescue Legislation

      Play Video Video        Play Audio Audio

     Fact sheet Fact Sheet: A Strong Bipartisan Proposal to Stabilize Our Financial System

     Fact sheet In Focus: Economy

 

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