Big Bongs, Bigger Bongers!!!

After presiding over some of the most dramatic market interventions in U.S. history over the past two months, President Bush came to Wall Street on Thursday to urge world leaders not to venture too far down a path of government interference in capitalist economies.

Speaking to a conservative audience at historic Federal Hall, Bush sharply criticized proposals for aggressive regulation and control over financial markets while simultaneously defending his administration's broad efforts to support the credit and housing sectors over the past two months.

His administration's moves, including corporate bailouts and a $700 billion rescue plan, were "necessary so that the economy would not melt down and affect millions of our fellow citizens," Bush said. But at the same time, he argued, world leaders gathering in Washington for a financial summit this week should avoid protectionism, excessive regulation or other measures that could stifle markets over the long term.

"History has shown that the greater threat to economic prosperity is not too little government involvement in the market, it is too much government involvement in the market," Bush said to resounding applause from the crowd of about 175. "Our aim should not be more government," he added later, "it should be smarter government."
[ cf Bush Warns of Aggressive Economic Regulation
On Wall St., He Defends Bailout ( they got small in the original ) ]