ON-Lion Letter
President George W. Bush vowed to support efforts to bring stability and transparency to the financial system in a mid-November speech in New York City, but warned that "it would be a terrible mistake to allow a few months of crisis to undermine 60 years of success" of free-market capitalism.

"[T]he crisis was not a failure of the free market system," Bush said in the speech, hosted by the Manhattan Institute for Policy Research and held at Federal Hall National Memorial on Wall Street.  "And the answer is not to try to reinvent that system.  It is to fix the problems we face, make the reforms we need, and move forward with the free market principles that have delivered prosperity and hope to people all across the globe.

"At its most basic level, capitalism offers people the freedom to choose where they work and what they do, the opportunity to buy or sell products they want, and the dignity that comes with profiting from their talent and hard work," the President continued.  "The free market system provides the incentives that lead to prosperity -- the incentive to work, to innovate, to save, to invest wisely, and to create jobs for others.  And as millions of people pursue these incentives together, whole societies benefit."

The Lynde and Harry Bradley Foundation in Milwaukee substantially supports the Manhattan Institute.
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