Bush signs bailout bill, says it will help avert wider crisis - KLTV.com - Tyler, Longview, Jacksonville |ETX News

WASHINGTON (AP)

Bush signs bailout bill, says it will help avert wider crisis

Associated Press - October 3, 2008 3:43 PM ET

WASHINGTON (AP) - President Bush says today's vote on a financial rescue package will "help prevent the crisis on Wall Street from becoming a crisis in communities across our country."

He quickly signed the $700-billion government bailout of the financial industry, after the House approved it by a vote of 263-171.

But Bush warned after the vote that "our economy continues to face serious challenges."

Bush, speaking in the Rose Garden, said he knows some Americans have concerns about the cost of the measure, and about the government's role in private enterprise. He said he believes that intervention should take place "only when necessary" -- and that in this case, it's "clearly necessary."

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly