Bush Warns of 'Temptation' to Abandon Free-Market System in Wake of Recession

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The former president, outlining his vision for a policy institute to bear his name at Southern Methodist University, calls the decision to back the $700 billion bank bailout one of the "most difficult" of his presidency. But he warns that policymakers may be taking government intervention too far in the wake of the rescue package.

Former President George W. Bush on Thursday warned that Washington is in danger of taking the country away from free-market principles in the wake of the recession, as he defended his decision to approve a Wall Street bailout package in the final months of his term.

The former president said the Bush Institute will keep economic growth and free-market principles as a focal point, along with issues like education, global health and "human freedom."

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