Vital vote : CTV Newsnet: Gil Troy, presidential historian, McGill University — View Video
U.S. President George W. Bush has signed off on the $700-billion bailout bill. Troy said the deal took so long to pass because of a power vacuum in the U.S., but he expects markets to bounce back….
Bush signs US$700B bailout bill into law
Updated Fri. Oct. 3 2008 3:16 PM ET
CTV.ca News Staff
U.S. President George Bush has signed into law a historic bill, which provides a US$700-billion lifeline to moribund financial markets.
Bush said the law was essential in getting the country’s sputtering economy back on track.
“I believe government intervention should only happen when necessary,” Bush told reporters in Washington on Friday.
Bush signed the bill into law on Friday afternoon, not long after the House of Representatives passed it by a count of 263-171.