CNSNews.com - Rescue Package is Not Socialism, White House Says

The White House (CNSNews.com) – The federal government’s $700 billion bailout of Wall Street, which includes purchasing shares in the nation’s banks, does not undermine free market capitalism, the White House said on Friday.

“We’re very, very far away from that line of socialism, wherever that’s drawn out there,” White House spokesman Tony Fratto said. [Read more]