Bush encourages congress to reach an agreement

Mortgage News > Bush encourages congress to reach an agreement

Date: 09/26/2008

President Bush requested that lawmakers reach an agreement and set aside their differences in order to promptly pass the historical rescue plan designed to turn the nation’s financial crisis back from the brink of dissolution.

President Bush made the request of his fellow colleagues on Friday after his meeting with Presidential Candidates Republican John McCain and Democrat Barack Obama and other top lawmakers was unsuccessful in surrendering a breakthrough on the 700-billion dollar rescue plan.

Pressure to pass the bill was amplified after the announcement of Washington Mutual’s collapse, now the largest bank failure in US history.

President Bush reassured the nation by saying "We will rise to the occasion, Republicans and Democrats will come together and pass a substantial rescue plan. There are disagreements over aspects of the rescue plan, but there is no disagreement that something substantial must be done."

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