Bush Speaks to Nation About Economy, Bailout
President George W. Bush gave a speech to the nation yesterday evening, summarizing the origins of the current U.S. economic crisis and giving a brief explanation of the proposed $700 billion bailout.
The speech was remarkably low on bullshit, although Bush carefully neglected to point out the role of economic deregulation during the 1980s and 1990s (yes, Clinton gets some blame as well) in creating a fertile environment for this kind of crisis.
Whatever your political leanings, the speech is worth watching for its summary of the proposed bailout and how it would work. If you missed it on TV, you may want to give it a look now:
I’m glad to see Bush take a stand in favor of bipartisan oversight. Secretary Paulson had originally asked for no legal oversight whatsoever. What about you? Does this speech make you feel any better or worse about the bailout plan?
