President Bush is influencing the urging lawmakers to pass the cooperation to financial system bailout bill, which is fashioned in marathon weekend bargaining. It is needed for maintaining stable growth in US economy and in stopping the crisis of financial industry from spreading across the economy.
Bush made the statement at the White House, assuring the Americans for approving the administration’s $700 billion rescue plan, which is the right thing to do right now. Bush spoke amid continued nervousness in financial markets at home and overseas and discussed about the extra ordinary deal for this package.
The president argued that nervous U.S. taxpayers, which they will get, benefited from a number of safeguards from lawmakers, including checks and balances on the operation of the program.
But the Connecticut senator, chairman of the Banking Committee, also said the bill is not a solution for all the problems that have bedeviled the U.S. financial markets and though there are failed to stop the act in spread the contagion of frozen credit markets even further.
