Bush says he's concerned about markets

September 18, 2008 7:41:45 AM PDT
With the financial markets in turmoil, President Bush said Thursday that he shares Americans' concerns and that the government will act further to try to avert a deepening crisis. Bush was supposed to spend the day in Alabama and Florida raising money for Republicans and talking energy policy. But he canceled the trip to focus on what is unfolding as the worst financial meltdown since the Great Depression.

Aiming to be reassuring and to show that he is working on the problem, he said the markets are adjusting to the "extraordinary measures" that have been taken in recent days by the federal government.

"The American people can be sure we will continue to act to strengthen and stabilize our financial markets and improve investor confidence," Bush said in two minutes of remarks -- his first on the turmoil since Monday -- just outside the Oval Office.

He did not specify what actions would be taken. The president was to meet with economic advisers over much of the day, and was seeing Treasury Secretary Henry Paulson at the White House later Thursday.

"Our financial markets continue to deal with serious challenges," Bush said. "As our recent actions demonstrate, my administration is focused on meeting these challenges."

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