What was President Bush's response to the financial crisis?

a. to state publicly that nothing could be done until the markets corrected themselves

b. to blame it on Americans being greedy and not saving

c. to put the unemployed to work building roads and bridges

d. to say he had lost faith in the free-enterprise system

e. to support a federal bailout of the banking industry

Question

Caroline

Business

17 July, 22:06

What was President Bush's response to the financial crisis?

a. to state publicly that nothing could be done until the markets corrected themselves

b. to blame it on Americans being greedy and not saving

c. to put the unemployed to work building roads and bridges

d. to say he had lost faith in the free-enterprise system

e. to support a federal bailout of the banking industry

+5

Answers (1)

Know the Answer?

Makai Pope · Answer 1

The answer is e. to support a federal bailout of the banking industry

Explanation:

To response to financial crisis, President Bush had addressed in the public television that the federal bailout of damaged financial institutions was necessary to avoid long and painful recession.

In fact, his administration had implemented an $700 billion worth of Trouble Asset Relief Program since October 2008, in which the amount from federal government's budget was spent on bailout damaged financial institutions such as American International Group (AIG), and bad mortgage debts.

So, e is the correct choice.