Dana Perino: Like omigod people, chill. It's just a little stock market drop.

[marmar]

from Bloomberg:



Bush Plans Statement Tomorrow to `Assure' Nation (Update2)

By Demian McLean

Oct. 9 (Bloomberg) -- President George W. Bush will address the nation tomorrow to tell Americans they should remain ``confident'' amid falling stock markets and a worldwide credit crisis, administration spokeswoman Dana Perino said.

The president wants to ``assure'' the country that Treasury Secretary Henry Paulson and other administration officials are making ``every effort to stabilize our financial system,'' Perino said.

The statement, spurred by ``volatility'' in U.S. markets today, will be given at 10:25 a.m., Perino said.

The Dow Jones Industrial Average fell below 9,000 for the first time since 2003 today, closing at 8,579.19. The Standard & Poor's 500 Index fell for the seventh day, losing 7.6 percent to 909.92. Higher borrowing costs and slower consumer spending have spurred concern that carmakers, insurers and energy companies will be the next victims of the credit crisis.

Previous statements by Bush and members of his administration haven't calmed markets since Congress passed a $700 billion bailout package intended to shore up banks and other financial institutions and stabilize markets.

Since Oct. 1, when the Senate gave final passage to the legislation, Bush has spoken publicly or issued statements about the rescue plan and the markets six times and the Dow has fallen 20.8 percent. .......(more)

The complete piece is at: http://www.bloomberg.com/apps/news?pid=20601087&sid=aTo2ZMsZ4nhY&refer=home

[NNadir]

1. Like, um, like wow, people, I mean, like just have some confidence in us.

[DJ13]

2. Bush is speaking?!

[thunder rising]

6. you mean he's moving his lips again?

[The Velveteen Ocelot]

3. Like, rilly. It's just like a little money, fer shurr.

[McCCain4retirment]

4. ...

Why doesn't Bush have the fucking balls to say this instead of "I don't know about the Cuban Missile Crisis Perino"

[thunder rising]

5. The fundamentals are sound. I have said it thrice: What I tell you three times is true.

[yellowcanine]

7. "volatility"???? No Dana, that is when stocks go up AND down.

When they just keep going down that is known as a crash.

[Bluebear]

8. Everything will be "fundamentally fabulous", I'm sure.

[dixiegrrrrl]

9. I cannot think if anything scarier than Bush saying things are ok.