“My hope is that people take a deep breath and realize that their deposits are protected by our government. We're not seeing the growth we’d like to see, but the financial system is basically sound."

President George W. Bush 08-16-08

"The economy continues to face numerous difficulties, including ongoing strains in financial markets, declining house prices, a softening labor market, and rising prices of oil, food, and some other commodities....The deteriorating performance of subprime mortgages in the United States triggered turbulence in domestic and international financial markets as investors became markedly less willing to bear credit risks of any type....Many financial markets and institutions remain under considerable stress, in part because the outlook for the economy, and thus for credit quality, remains uncertain."

Fed Chairman Ben Bernanke 08-16-08

Headlines 08-24-08 MSNBC.COM

No Sign of bottom in home slide.

Ford post $8.68B loss

Jobless claims surge - 3.1 million drawing unemployment benefits.

Dow falls 250 points.

Does President Bush read the newspapers???? I don't expect him to have all the answers, but I wish he would at least come to grips with the reality of the situation.