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Donald trump saysUSeconomy rushing into depression

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 Picture: AP Photo/Charles Rex Arbogast
Trump, commenting on the economic bailout plan said the $700 billion plan is probably necessary

Real estate mogul Donald Trump says the proposed $700 billion bailout of the financial industry is a "black eye" for an American economy that was "rushing into one big depression."

Trump says the bailout is "probably needed" to stave off an economic depression brought about by "lots of bad policy by the Bush administration."

He says he’s endorsed John McCain for president.

Trump says the Republican candidate has smart people around him.

Trump spoke yesterday at the topping off ceremony for his Trump International Hotel and Tower in Chicago. The 92-story commercial and residential development will be the second-tallest building in the city after the Sears Tower.