Thursday, September 25, 2008

Pres. Clinton says bailout must not protect undeserving

AP story here.

Former President Clinton says legislation stabilizing troubled financial markets ought to be ensure there'll be no "unjust enrichments" of people who do not deserve a bailout.

The former president also said he believes the convulsiveness in the markets has the potential to substantially damage the economy in the absence of action by Congress and the administration.

Clinton was interviewed Thursday morning on CBS's "The Early Show." He said that "when people lose confidence in everything, down to the 4-year money market accounts, that's bad."

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