Saturday, October 04, 2008


from The Wall Street Journal, dated October 4, 2008:

President George W. Bush signed into law an unprecedented $700 billion plan
to rescue the US financial system, one of the largest ever government
interventions in the nation's economy -- and almost certainly not the
The legislation ranks alongside other broad federal attempts top prop up the economy, such as Roosevelt's New Deal . . . It will likely be followed by other moves. . . . Looking to next year, Democratic lawmakers are planning to revamp financial-system regulations . . . House Speaker Nancy Pelosi portrayed the legislation as "only the beginning" of the legislative response to the faltering economy.


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