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Despite bailout, stockmarkets fall faster than Bush’s popularity. “The economy is going to be just fine”: Bush

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Cincinnati, OH, October 6th, 2008, (Reuters).- The bailout plan that the

At the end of the conference, president Bush played the guitar for some coins. "The way things are going, none of us might have a job soon," he commented.

At the end of the conference, president Bush played the guitar for some coins. "The way things are going, none of us might have a job soon," he commented.

president just signed, created the opposite desired effect, a sell off that triggered losses in all markets in the world, including a drop for the Dow Jones that hadn’t been seen since 2004. This was in addition to an unprecedent streak of bank closures, mergers and sell offs.

The president made some unscheduled comments both in San Antonio and in Cincinnati to soothe the markets and breath confidence back into American financial institutions.

“Frist of all, I don’t see America having problems. The economy is growing, productivity is high, trade is up, people are working. It’s not as good as we’d like, but  — and to the extent that we find weakness, we’ll move.”

“I believe that in the long run, this economy is going to be just fine.” Pointing to some business owners that were with him, he added, “The bill I signed is a big step toward solving this problem. Had we not done anything, people like these folks would be a lot worse off. As it stands, they are just bad and miserable. Fellas, I know how hard it is for you to put food on your family.”

He also spoke to some reporters and citizens gathered to show that he cares. To a divorced mother of three, he said “You work three jobs? Uniquely American, isn’t it? I mean, that’s fantastic that you’re doing that.”

To a banker who asked him if the bailout would be enough, he answered, “We got plenty of money in Washington. What we need is more priority.”

As a closing statement, he added, “Let’s make sure that there is certainty during uncertain times in our economy.”

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Written by Flippyman

October 6, 2008 at 10:57 pm

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