US mourns President Ford
A national day of mourning is taking place to remember President Ford
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Tuesday, 02, Jan 2007 06:11
A national day of mourning is underway in America to mark the death of former US president Gerald Ford.
US president George Bush paid tribute to the "firm resolve" of his predecessor in a eulogy during the funeral service which took place this lunchtime in Washington DC.
Both the Nasdaq and New York Stock Exchange (NYSE) are remaining closed as a mark of respect for President Ford, who at 93 years old was the longest-living American president.
President Bush described Gerald Ford as a "synonym for integrity" whose affability belied the "firm resolve" it hid.
"History will long remember the courage and common sense that helped restore trust in the workings of our democracy," he said, referring to President Ford's difficult period in power after the Watergate scandal which brought down Richard Nixon.
"When he was elevated to the presidency, it was because America needed him, not because he needed the office," President Bush said.
"Amid all the turmoil, Gerald Ford was a rock of stability. He brought grace to a moment of great doubt."
The 38th American president, who died on December 27th, had been lying in state at the Capitol in Washington since Saturday.
His body will be flown to his presidential library for a private interment service and burial tomorrow.
Meanwhile President Ford, having served on the Nasd board in 1999 and 2000, won personal praise from Nasdaq's president, Bob Greifeld, as a "notable businessman".
"His leadership and invaluable service during his time on the Nasd board contributed to what the Nasdaq is today, an independent public entity. President Ford's efforts will be forever remembered," he said.
And NYSE chairman John Thain described President Ford as "a man of great integrity and vision" and "a dedicated public servant".
"He assumed a troubled presidency in a critical time, and thoughtfully and skillfully restored credibility and confidence in the presidency. President Ford also made significant contributions to the stability and vitality of the US economy and financial markets. It is appropriate that we honour President Ford and celebrate the life of a truly great American."
US exchanges have traditionally marked previous presidential deaths; most recently in July 2004 the funeral of Ronald Reagan saw both markets remain closed.