The White House is scrambling to push through its $700 billion Wall Street bailout by the end of the week. On Wednesday, President Bush made a national appeal for Americans to support the plan. In a prime-time address, Bush said the package is needed to save what he called an “economy in danger” and avoid “a long and painful recession.”

President Bush: “Financial assets related to home mortgages have lost value during the housing decline, and the banks holding these assets have restricted credit. As a result, our entire economy is in danger. So I propose that the federal government reduce the risk posed by these troubled assets and supply urgently needed money so banks and other financial institutions can avoid collapse and resume lending.”