Senator Reid Slams Bush's Handling Of The Economy

03/28/2008 05:12 am ET | Updated May 25, 2011
  • STEVEN LEE MYERS New York Times

As President Bush welcomed the Federal Reserve's sweeping intervention in the financial markets, his administration faced accusations Monday that it supported the bailout of a prestigious investment bank while doing little to address the hardships faced by Americans facing foreclosures on their homes.

After conferring with his economic aides at the White House in the morning in the first of two meetings on the turmoil, Mr. Bush singled out the Treasury secretary, Henry M. Paulson Jr., saying that he had shown "the country and the world that the United States is on top of the situation."

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