It was another wild day on Wall Street as stocks gained back some of the big losses from earlier this week.

The Dow Jones Industrial Average climbed 410 points, closing at 11,019.

The NASDAQ rose 100 points to close at 2,199.

Even though stocks rallied today, the government is calling it the worst financial crisis since the 19-30's.

It is also exposing deep divisions inside the Republican Party.

Conservative republicans said the rescue of AIG and other companies is a betrayal of free market principles.

But President Bush said the government's intervention was necessary to avoid severe repercussions in the financial markets.

There was no pep talk from President Bush.

Instead, measured tones with just four months left in office.

“The American people are concerned about the situation in our financial markets and our economy, and I share their concerns, “said Bush.

Canceling a trip to Alabama and Florida, the president monitored the markets from Washington and huddled with his Treasury Secretary Henry Paulson.

In the wake of the fed's rescue of insurance giant AIG, the president defended the government's response, saying “these actions are necessary, and they're important.”

But justifying government intervention marks a radical departure from only a year ago:

“The government has got a role to play -- but it is limited. It’s not the government's job to bail out speculators,” said Bush on August 31, 2007.

Now, the sunny outlook the president projected just this summer, saying “I believe the foundations of this economy are strong,” said the president on July 31st.

He has given way to a grim reality and unanswered questions about what's next.

Meantime, fellow republicans are blasting the Bush administration, questioning why taxpayer dollars are being used to bail out private firms and they say officials did not consult with them ahead of time.

But the White House says they did the best they could amid the fast-moving crisis.