WASHINGTON (AP) — President Bush defended the $700 billion cost of his financial bailout proposal, saying Saturday it needed to be massive so turmoil on Wall Street did not spread to Main Street. Bush pledged to work with Congress to quickly pass legislation as part of the largest financial bailout since the Great Depression. “This is a big package because it was a big problem,” Bush said. Trying to allay public fears about the health of the economy, Bush said that the risk of doing nothing outweighed the risks of government intervention.
Bush defends $700 billion financial bailout
By The Associate Press
September 20, 2008