Bush Signs $700 Billion Bailout Bill

[Gold9472]

Bush signs $700 billion bailout bill
Bush lauds Congress for passing federal rescue plan for financial industry

http://biz.yahoo.com/ap/081003/meltdown_bush.html

By Tom Raum, Associated Press Writer
Friday October 3, 2:57 pm ET

WASHINGTON (AP) -- President Bush has signed into law a far-reaching $700 billion bill to bail out the nation's tottering financial industry, shortly after it won final approval from Congress.

The president signed the measure at his desk in the Oval Office. Photographers were invited in to capture the moment.

The president signed the bill after returning from the Treasury Department where he thanked employees for their work on the rescue package.

[BASE701]

After listening to several congress people about their flip flop, I'm not so sure they even had an option here.

This was the worst legislation to ever pass congress. Period. If there is a God, may he have mercy on their greedy, self serving souls.(congress)

[MrDark71]

Ummm...they certainly do have the option to not try and force the real estate market prices up in complete contrast to the theory of supply and demand. That's like saying the new Escalades are worth even more .... while l stock piles up on the car lot. It's crazy to assume we have no option but to give these banks a pass ...and for Congress to think so...is almost 'accomplice after the fact' and BOTH of them should be prosecuted under a RICO statute for robbing the United States of..as it stands now...$840 Billion ...and growing.

[simuvac]

Just once I would like to see the "hidden hand of the market" not become visible as the clenched fist of the ruthless oligarchy.

OK, props to Thom Friedman on that last line:

"The hidden hand of the market will never work without a hidden fist."