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Sept. 19 / Administration of George W. Bush, 2008 cause massive job losses, devastate retire- the world. This country is the best place ment accounts, and further erode housing in the world to invest and do business. values, as well as dry up loans for new Consumers around the world continue to homes and cars and college tuitions. These seek out American products, as evidenced are risks that America cannot afford to take. by record-high exports. We have a flexible In this difficult time, I know many Amer- and resilient system that absorbs challenges icans are wondering about the security of and makes corrections and bounces back. their finances. Every American should We’ve seen that resilience over the past know that the Federal Government con- 8 years. Since 2001, our economy has faced tinues to enforce laws and regulations pro- a recession, the bursting of the dot-com tecting your money. Through the FDIC, bubble, major corporate scandals, an un- every savings account, checking account, precedented attack on our homeland, a and certificate of deposit is insured by the global war on terror, a series of devastating Federal Government for up to $100,000. natural disasters. Our economy has weath- The FDIC has been in existence for 75 ered every one of these challenges and still years, and no one has ever lost a penny managed to grow. on an insured deposit, and this will not We will weather this challenge too, and change. we must do so together. This is no time America’s financial system is intricate and for partisanship. We must join to move ur- complex. But behind all the technical ter- gently needed legislation as quickly as pos- minology and statistics is a critical human sible, without adding controversial provi- factor: confidence. Confidence in our finan- sions that could delay action. I will work cial system and in its institutions is essential with Democrats and Republicans alike to to the smooth operation of our economy, steer our economy through these difficult and recently that confidence has been shak- times and get back to the path of long- en. Investors should know that the United term growth. Thank you very much. States Government is taking action to re- store confidence in America’s financial mar- kets so they can thrive again. NOTE: The President spoke at 10:45 a.m. in In the long run, Americans have good the Rose Garden at the White House. The reason to be confident in our economic Office of the Press Secretary also released strength. America has the most talented, a Spanish language transcript of these re- productive, and entrepreneurial workers in marks. Remarks Honoring the 2008 National Basketball Association Champion Boston Celtics September 19, 2008 The President. Welcome to the White know, I was telling them, I went to school House. Please be seated. So Celtic Pride up there. And those were the days when is back. So a friend of mine, who is a the Celtics were awesome. And there was huge Celtics fan, said, ‘‘Why don’t you call a little bit of a drouth, but sure enough it the ‘Boston Three Party’? ’’ I said, ‘‘Be- that drouth ended with the NBA champion- cause it took a team to win.’’ And I wel- ship. And I welcome you all to the White come the Boston Celtics team that has House as NBA champs. HEARING brought great pride to the Boston area. You with 1214 DSK7SPTVN1PROD on VerDate Mar 15 2010 10:40 May 25, 2012 Jkt 217559 PO 00000 Frm 00248 Fmt 1240 Sfmt 1240 E:\HR\OC\217559.010 217559 wreier-aviles Administration of George W. Bush, 2008 / Sept. 19 I do want to say congratulations to the gether to make a team work, and that’s owners. You might recall I was an owner Danny Ainge. of a baseball team, and never knew what And so during the off-season, he figured this felt like. [Laughter] Wyc Grousbeck, out the need to bring maybe some new Irv Grousbeck, and wives; Steve Pagliuca; blood, or some old new blood. [Laughter] Bob Epstein—these all say managing part- Well, older new blood. And of course, you ner. You got a lot of managing partners. know, the famous trades were made for— [Laughter] But that’s good. I know you’re the famous pickups were Kevin Garnett proud, and I know you’re thrilled to—being and Ray Allen. And these guys are awe- here. I congratulate the general manager, some players. But Danny Ainge would be Danny Ainge; Rick Gotham, the team the first to tell you—by the way, the NBA president who is with us; Doc Rivers—look, executive of the year would be the first this guy can coach. And coaches—and to tell you, it takes an entire team to win coaches—I congratulate the—all those who a championship. You bet these two people work in the organization for joining us. were awesome additions to the team, but Welcome to Members of Congress; glad it required a bunch of people playing to- you all are here. I welcome members of gether for the common good to win. my administration who’ve come, members And that’s what Doc Rivers did. See, this of the United States Armed Forces who guy is—I’ve known him somewhat. He’s a are with us today, Boston Celtics fans who good man. He brought character to the clubhouse. He brought unity to the team. are with us today. I don’t think we’ve had And he helped bring the championship this many fans since Saint Patrick’s Day, back to Boston. Senator. [Laughter] And finally, and most The team got off to a fast start. They importantly, the players who brought the won the first 8 games, and they never championship back to Boston. Welcome. looked back for 66 wins for the NBA’s best Congratulations to you. record. And then you got in the playoffs, It’s amazing how sports works, isn’t it? which didn’t exactly go as smoothly as some At the beginning of last season, few would people thought—[laughter]—but neverthe- have predicted how this season would have less, when it came time to defend your ended. After all, the Celtics had finished home court, this team figured out how to with the second-worst record in the NBA. do it. And the two-decade championship drouth And then, of course, the LA Lakers in was pretty likely to continue, at least that’s the finals. For baby boomers like me, that what the experts said. There’s a lot of ex- is the—that was a reminder of a great bas- perts in life these days, if you hadn’t no- ketball rivalry. So, like, Boston fans were ticed. [Laughter] screaming, ‘‘Beat LA!’’ at the top of their Except the owners were determined to lungs, and that’s exactly what this team did win. They said, ‘‘We’re going to bring a in six hard-fought games. If you’re a basket- winner for our fans.’’ These are fan-ori- ball fan or a sports fan, it was really awe- ented owners who understand that a sports some to watch, wasn’t it? If you’re a Boston franchise is only good as its fan base. And Red Sox fan it was doubly awesome to then you hired a general manager who watch—[laughter]—Boston Celtics fan, knew what it meant to be a champion. You man, you were in heaven. [Laughter] didn’t hire him; he had been there for a Despite his knee injury early in the se- while. But he knew what it meant to be ries, this team’s captain, Paul Pierce, played a champion. After all, he’s on the 1986 with courage. You know, leadership comes championship team. And he knows there’s in all different kinds of ways. Playing hurt HEARING something special that needs to be put to- in a championship game is the ultimate sign with 1215 DSK7SPTVN1PROD on VerDate Mar 15 2010 10:40 May 25, 2012 Jkt 217559 PO 00000 Frm 00249 Fmt 1240 Sfmt 1240 E:\HR\OC\217559.010 217559 wreier-aviles Sept. 19 / Administration of George W. Bush, 2008 of leadership. And that’s why he won the worrying about children and literacy and MVP honors for the NBA finals. And that’s using your special status in society to set why the league calls him ‘‘The Truth.’’ This a good example. team calls him the captain. Most of all, I congratulate you for being It is safe to say that everybody on this champs. I wish you all the very best for team contributed to the championship. You the next season. Should you win it, you know, not enough focus has been put on, can find me in Texas. [Laughter] until the end, the depth of the bench on Congratulations. Congratulations, and the Boston Celtics. They had a lot of play- now it is my honor to bring to the podium ers come off the bench to make a huge ‘‘The Truth,’’ team captain Paul Pierce. difference, and although they—three big Paul Pierce. Little nervous. [Laughter] names, three great NBA players were there, Well, Mr. President—— but the real strength was the depth of the The President. Yes, sir. roster, I think. And I think most of the Mr. Pierce. ——we just want to say it’s basketball experts will tell you that’s the truly an honor to be here in your house case.

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