When President Bush took office on Jan. 20, 2001, the S&P 500 stock market index stood at 1,342.54.<quoted text>lol! So now they're wrong?
The day President Bush left office, it was 805.22, a drop of 40 percent.
A grim-faced President Bush acknowledged risks to taxpayers in what would be the most sweeping government intervention to rescue failing financial institutions since the Great Depression. But he declared, "The risk of not acting would be far higher."
The administration is asking Congress for far-reaching new powers to take over troubled mortgages from banks and other companies, including purchasing sour mortgage-backed securities. Administration officials and congressional leaders are to work out details over the weekend.
Republicans try to hide their mess