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Bush expects financial loss
President George W. Bush is confident that he and First Lady Laura Bush have lost money in the economic crisis, but they won't find out until after he leaves office how much their financial accounts have lost.
- AP
- Published: 23:33 January 14, 2009
Washington: President George W. Bush is confident that he and First Lady Laura Bush have lost money in the economic crisis, but they won't find out until after he leaves office how much their financial accounts have lost.
In an interview with CNN's Larry King on Tuesday, the president said his personal assets are in a blind trust and that the last time he talked with the trustees was eight years ago.
Bush said he has "no earthly idea" how much he and his wife have lost in the market slump. Asked what part of the responsibility for the financial meltdown rests on his shoulders, Bush defended his decision to ask Congress to approve a $700 billion [Dh2.57 trillion] financial rescue plan.
He said his actions have mitigated the effects the economic crisis is having on Americans. He also argued that his administration called for reform of mortgage giants Fannie Mae and Freddie Mac, but that no legislative reform was ever passed.
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