Friday, September 26, 2008
It was short and sweet, but very clear. The silver-tongued leader of the free world has "willed" the much-needed bailout legislation into being and, therefore, it will happen.
Good Morning,Transcribing the words of our president once again yields a new appreciation for the political leadership in Washington.
My administration continues to work with the Congress on a rescue plan. And we need a rescue plan. This is uh... it's hard work. Our proposal is a big proposal. And the reason it's big - and substantial - is 'cause we got a big problem.
We also need to uh... move quickly.
Now, anytime you have a plan this big, that is moving this quickly, that requires legislative approval, it creates challenges. Members uh... want to be heard, they want to be able to express their opinions, and they should be allowed to express their opinions. There are disagreements over aspects of the rescue plan, but there is no disagreement that something substantial must be done.
The legislative process is, sometimes, not very pretty.
But, we are going to get a package passed. We will rise to the occasion. Republicans and Democrats will come together and pass a substantial rescue plan.
While some doubters may have had their faith restored in the financial system - the gold market apparently didn't see things that way.