Summary
WASHINGTON -- President Bush said today the nation's troubled financial system is "basically sound" and urged lawmakers to quickly enact legislation to prop up mortgage giants Fannie Mae and Freddie Mac.
He also called on the Democratic-run Congress to follow his example and lift a ban on offshore drilling to help increase domestic oil production.See the full content of this document
Extract
Bush Calls On Congress to Prop Up Mortgage Giants
"I readily concede it won't produce a barrel of oil tomorrow, but it will reverse the psychology," Bush told a White House news conference -- his first since late April.
Bush said the two troubled mortgage companies play a central role in the nation's housing-finance system and that go...See the full content of this document
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