Mike Jackson is CEO of AutoNation, the nation's largest automotive retailer. It is headquartered in Fort Lauderdale.

Q. What do you think about the bailout?

I think the use of the term ''bailout'' is most unfortunate, because it doesn't describe what needs to be done or what is actually being done. It's really an investment in the future of America, and done skillfully it's going to save millions of jobs; and the money the government extends, it will get back if it does it right.

Q. What kind of impact do you think this legislation will have on South Florida's economy here?

We're going to have a deep recession that is going to last a long time if the Federal Reserve and the Treasury are not empowered to intervene through legislation. . . . Without this intervention to deal with the solvency of the banks, I'm very pessimistic.

Q. Is this something that needs to be addressed right away?

A big part of this is trust and confidence in our financial institutions. The way it's been handled has not inspired a lot of confidence and trust. You could almost say Congress is earning its 10 percent approval rating.

Q. Are there long-term implications for South Florida's economy?

There is a certain question mark over the Florida economy at the moment. Florida always meant a low-cost place to live with lots of sunshine. We still have the sunshine, but now we have big questions over the property taxes and insurance and now real estate.

As far as when things are going to improve, you tell me when the credit crisis is going to pass, and I can tell you when you can start talking about improvement. And that's really the wild card at the moment that no one knows the answer to. . . . It's been a long time since we've been in this predicament. The key to the Florida/U.S. economy recovering its stride will be resolving the credit crisis.

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