Bush Says US Economy Still Fundamentally Strong

[Manuel]

In his first full news conference in nearly three months, Bush endorsed the emergency rescue plan for Fannie and Freddie crafted by the Treasury Department and Federal Reserve, but emphasized that such steps would be only temporary.

The president also played down predictions that large numbers of banks may be on the verge of failure and spoke at length about the federal insurance system that guarantees deposits up to $100,000. Federal regulators last week took over IndyMac Bancorp of California amid a run on the bank's reserves.

Bush Says U.S. Economy Still Fundamentally Strong - washingtonpost.com

 

[Jeepers]

He also said he didnt know much about economics but he had a gut feeling that everything was AOK... I looked that economy in the eyes and I saw his soul.. eh.. maybe that second part was from another speech.