WASHINGTON (CNN) – President George W. Bush Tuesday said he is "considering all options" when it comes to aiding the U.S. auto industry because doing nothing could lead to further economic decline.
Watch: Bush on auto industry help
"A disorganized bankruptcy could create enormous economic difficulties, further economic difficulties," President Bush said in an interview with CNN's Senior Political Correspondent Candy Crowley. "I feel a sense of obligation to my successor to make sure there is a not a huge economic crisis. Look we're in a crisis now. We're in a huge recession, but I don't want to make it even worse.
"But on the other hand, I'm mindful of not putting good money after bad, so we're working through some options," he said.
"What you don't want to do is spend a lot of taxpayers' money and then have the same old stuff happen again, and again and again," he added.
Bush said there was no one person or event to blame for the recent woes in the U.S. economy and said of the housing and financial markets "the whole system became inebriated."
"I'm not really happy about the fact there have been excesses in the financial markets which are affecting hard working people and affecting their retirement accounts. Having said that, I'm very confident that with time the economy will come out and grow and people's wealth will return."
Bush was asked about the Iraqi journalist who threw his shoes at him during a press conference in Baghdad over the weekend. The president said the journalist was "looking for notoriety" and authorities shouldn't "overact" in their treatment of him, saying, "I didn't have much time to reflect on anything, I was ducking and dodging.
"First of all, it's got to be one of the most weird moments of my presidency," he said. "Here I am getting ready to answer questions from a free press in a Democratic Iraq and a guy stands up and throws his shoe. And it was bizarre and it was an interesting way for a person to express himself."
Bush added, "I'm not angry with the system. I believe that a free society is emerging, and a free society is necessary for our own security and peace."
On Iraq, Bush said the decision to go to war was by the far the most difficult one he made in the Oval Office. He also said he "listened to a lot of people" even some in his administration who told him the war was not "working."
"I listened very carefully to them," Bush said. "I came to a different conclusion."