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Bush Says Financial Rescue Plan Not A Quick Fix

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Oct 4, 2008 10:27 am US/Eastern

Bush Says Financial Rescue Plan Not A Quick Fix

WASHINGTON (AP) ― President Bush is warning Americans not to expect immediate relief from the 700 billion dollar bailout bill he signed yesterday.

He says it will take time to implement. In his weekly radio address, Bush says the government will "move as quickly as possible," but will go "at a careful and deliberate pace" to make sure the money is spent wisely.

The president says he's confident that by getting the markets moving, it will unleash what he calls "the entrepreneurial spirit of the American people."

The financial rescue plan gives the government broad authority to buy toxic mortgage-related investments and other distressed assets. It's hoped that will restore confidence in markets, and make credit more available.

Treasury Secretary Henry Paulson says details for implementing the plan are being worked out.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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