Bush: I Would Love To Let Firms Collapse, But Can’t
Published: September 27, 2008
Would you rather just let irresponsible financial firms get what’s coming to them instead of bailing them out?
President Bush says he knows how you feel. In his radio address, he says if he could just let the irresponsible firms collapse, without affecting American families, he’d do it. But he says that’s not possible.
Bush acknowledges that many Americans are frustrated by the situation that led to a possible 700-billion-dollar bailout. And he knows people are angry that they may have to cover the mistakes of Wall Street firms. But he’s calling on lawmakers from both sides to work together on what he calls “an issue that transcends partisanship.“
Bush says he’s confident that there will be agreement on a plan to “protect the financial security of every American very soon.“
The measure is aimed at rescuing bankers from the bad loans that threaten to derail the economy and plunge the country into a long depression. Negotiators are hoping for a deal before Asian markets open on Monday.
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Reader Reactions
deputyr AMEN they dont care if american citizens go under and lose everything they have but let big business who rob american blind get in trouble with their ceo making millions they step in to help which we will end up paying for.
Why doesn’t the government bail me out and pay off my debts so I can invest some money in these banks and help keep them afloat? The high gas prices and slowing economy are greatly affecting my income as a salesman, and me not tithing as much to the church hurts it, and the people that are touched here and around the world in missions. And our church tithes 10% of what comes in, so this will snowball just like these companies that are paying mega-bonuses to the CEO’s as we pay more for everything to help bail them out.
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