President Bush signed the bailout bill into law this afternoon. He met with Treasury Secretary Hank Paulson and thanked his team for the work they have been putting in the past couple weeks. The two met at the Treasury Building in Washington.
"We have acted boldly to help prevent the crisis on Wall Street from becoming a crisis in communities across our country," Bush said shortly after the vote.
"We all know that we are in the midst of a financial crisis," House Republican leader John Boehner of Ohio said before the vote. "And we know that if we do nothing, this crisis is likely to worsen and to put us into an economic slump like most of us have never seen."