This is a pivotal moment for America’s economy. Problems that originated in the credit markets — and first showed up in the area of subprime mortgages — have spread throughout our financial system. This has led to an erosion of confidence that has frozen many financial transactions, including loans to consumers and to businesses seeking to expand and create jobs. As a result, we must act now to protect our nation’s economic health from serious risk.
There will be ample opportunity to debate the origins of this problem. Now is the time to solve it. In our nation’s history, there have been moments that require us to come together across party lines to address major challenges. This is such a moment.
America’s economy is facing unprecedented challenges, and we are responding with unprecedented action.
2 comments:
you know, you gotta just wonder: it seems as if the neocon plan to bankrupt the government is coming to fruition. the foxes were in the henhouse and no one pays but little guy.
What Obama said today, or was it yesterday.....anyhow, he said as long as they don't bail out the CEOs etc because they are part of the problem, and don't bail out the shareholders because when you buy stock you take a chance, then go on and help them because it's the people (middle class) that are going to get hurt.
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