Following approval of bailout plan by the House of Representatives of U.S. Congress, the country's president, George W. Bush gave a speech at the White House, which demonstrated its satisfaction with the agreement reached in the legislature, but admitted that the implementation of the bailout will require analysis and patience.
"They thought the government was not going to meet the challenge, but thanks to coordination between the executive and the legislature have found this deal. In joining to develop this bill we have acted boldly to prevent the crisis Wall Street affects all markets, "he said from Washington.
"We have shown the world that America will stabilize its financial statements and maintain a crucial role in the global economy," he added.
Bush said the bill provides tax incentives for employment generation, increasing federal insurance for banks than U.S. $ 100 billion to $ 200 thousand, the alternative minimum tax relief. However, the president acknowledged the concerns about the rescue thousands of Americans due to government intervention in the market.
"I know some are concerned about this bill, especially the role of government. I support free enterprise, I think the government should intervene when necessary, and in this case it was. The cost to taxpayers will be less, the government will purchase some of those assets when the market recovers, these values \u200b\u200bwill too, "he said.
results will not be immediate
The U.S. president said that the results of the bailout will not be seen immediately, but will a calming effect on the economy.
"They should wait a while before the bill has an impact on the economy. It requires careful analysis and definition, this can not be done overnight," he said.
These comments came minutes after the House approved the bailout plan for U.S. $ 700 billion raised by the then president George W. Bush, after having rejected the first version on Monday.
At the same time, he warned that this is only one step in combating the crisis, which must comply with future problems.
"Our economy continues to face major challenges This morning we learned that in September there were more job losses. We are confident that we will overcome the challenges that may present itself. We will return America to the path of growth, "he said.
The country's lower house gave its approval to the modified version of the package by 263 votes to 171 against, and upheld the decision of the Senate American to the last Wednesday approved the rescue plan with 74 votes in favor and 25 against.
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