So...What happened to the Economy is Basically Sound??

Wasn't it just two weeks ago that President Bush was assuring us that the foundatin of our economy was basically sound? I couldn't help but watch last nights speech with anger and sadness. I guess that it comes as no surprise that the American homeowner was blamed for the countries current financial debacle. 

As he laid out the chronology of events, starting with the omeowners who took out loans that they couldn't afford, and ending with poor wall street being the victim, I found myself screaming at the television screen. (My poor kids and husband thought that I was nuts)

The fact remains that had Wall Street not been hungry for the profit at all costs, these loans would not have been made available to homeowners. What bothers me most is that most of Americans don't truly understand what happened so they believe his fairy tale.

I believe that at this juncture, the only solution is significant government intervention such as the plan being put forth by this clearly incompenent president.

How can a public figure, our President, swing from "the economy is basically sound" to "Without immediate action by Congress, America could slip into a financial panic, and a distressing scenario would unfold,"

Mr. Bush - we're already in financial panic and a distressing scenario is already unfolding!