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Bush Assures 700 Billion Dollar Financial Bailout Plan Will Be Approved |
Baja Real Estate & Economy News
 United States President George W. Bush remarked, for the fifth straight day, the necessity of approving the plan for financial bailout proposed by its government in an effort to take measures against the financial crisis facing the country.
He stated the necessity of “moving quickly” but acknowledged that “any time you have a plan this big that is moving this quickly that requires legislative approval it creates challenges”.
During the televised message from the White House, Bush admitted that “the legislative process sometimes is not very pretty” but trusts in the quick approval of the plan and that the differences between democrats and republicans will be left behind “there is no disagreement that something substantial should be done”.
The United States President’s message looks to give trust to the markets during first minutes of thaw Wall Street opening. This comes after yesterday the Congress reunion at the White House, the President, the presidential candidates and the Secretary of Treasure, failed to reach an agreement that will put in motion a 700 billion dollar plan to rescue the financial system.
A plan that the real estate and housing markets hope will turn things around. Baja real estate investors are following these developments cautiously as the governments financial moves are taking place, like yesterday’s purchasing of Washington Mutual by JP Morgan Chase after an intervention of the American government.
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