Bill Radke: Thank you for joining us this Friday morning as we continue with Fallout: our special coverage of the global financial crisis. President Bush spoke moments ago in the White House Rose Garden:
President George W. Bush: Fellow citizens, we can solve this crisis, and we will.
The president did not make any specific policy announcements. The statement was intended to calm the markets.
President George W. Bush: The United States government is acting. We will continue to act to resolve this crisis and restore stability to our markets.
What effect might Bush's statement have? Marketplace's Jeremy Hobson has that from New York.
Jeremy Hobson: The president has made mostly brief statements about the financial crisis, and he hasn't held a full-blown press conference since July, when he said he thought the banking system was sound. There were no questions today, just a list of the steps the government has taken in recent days.
That is what was broadcast nationwide today on our citizen and government funded National Public Radio.
With all of the bravado and bluster, confidence and arrogance that King George II "the lesser" has led us with (against our will) for the past eight years,
he has become near invisible... and Dick Cheney has achieved full invisibility.
His poor decisions and actions have rendered him useless to our private and public lives...
as the rest of the world attempts to comprehend all of the possible scenarios he is capable of unleashing on our planet with the few remaining months of his absolute monarchy.
His lack of vision and governance has sent shockwaves from the streets of New Orleans to the mountains of Afghanistan and Iraq
and now eight years of his economic policies have redifined global monetary banking and lending.
The spooky thing about him is that all of this is happening right now and he is still content to publicly fulfill his role as president by reducing himself to the emotional and informational equivalent of "Play-by-play announcer to the Government of the United States of America."