Bush Seeks To Reassure Americans On Economy; Will Make A Statement On The Economy Friday

[Purveyor]

(10-09) 14:57 PDT WASHINGTON, (AP) --

As the stock market plunged to its lowest level in five years, the White House on Thursday sought to assure anxious Americans that the United States is working aggressively to stabilize the nation's chaotic financial system.

In a new effort to calm the crisis, President Bush will make a statement on the economy Friday in the Rose Garden. Bush is not expected to announce any new policy decisions, White House press secretary Dana Perino said.

"He will assure the American people that they should be confident that economic officials are aggressively taking every action to stabilize our financial system," Perino said. "The Treasury Department, the Federal Reserve and the FDIC all have the necessary tools to address the problems we are facing.

"The Treasury Department is moving quickly to use new tools to improve liquidity, which is the root cause of this problem," she said. "Americans should be confident that every effort is being taken to stabilize our markets."

Bush will meet at the White House on Saturday with finance ministers from Britain, France, Germany, Italy, Canada, Japan and the United States and then make another statement in the Rose Garden, Perino said.

MORE...

AP: http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/10/09/national/w142700D16.DTL

[shadowknows69]

1. Christ on a cracker, the markets will drop farther as soon as he does

Haven't they learned this by now?

[Purveyor]

8. That is pretty much the consensus with the CNBC crowd. They all but shouted NOOOOO...

when they heard he was going to make his statement while the markets are open.

[shadowknows69]

12. I hate being right these days

[av8rdave]

2. I feel better already!

[yy4me]

13. That was my first thought. My second was that *** be sent to

prison for life and a day. I'll be merciful and give him company. One VP, one Sec of State, one former Sec of Defense and maybe a few others. To keep them all company, one former adviser, Karl Rove.

[NightWatcher]

3. bush talks= falling stocks. This has got to be seen as a PANIC on the part of bushco

and like it or not, he cant fix this

[mike_c]

4. I feel better already....

Dubya is on the case! :rofl:

[Warpy]

5. That should get the market closer to 7000

He's always been good for at least 100 points down in the past, but this is a panic.

I'm sure there are a lot of people on Wall Street who'd like to gag him for the balance of his term.

[SammyWinstonJack]

6. I don't know how that hideous little man can show his face and think he is relevant, in any way?

:shrug: After all wasn't it less than a month ago that he was on our TeeVees telling us that the economy was fundamentally sound? Idiot!

[nadinbrzezinski]

7. Will work as well as with Hoover

[stillcool]

9. Why can't he just do a fly-over?...

[Horse with no Name]

10. I guess they had to get him sobered up and shaved. n/t

[Fleshdancer]

11. why bother?

He hasn't said anything helpful so far so he can spare us the 15 minutes of babbling about "uh, it's hard" or "it'll take time" because it's pointless. Pick up an Economics for Dummies book and then get back to us.

[old mark]

14. Gosh, guys, if anything could reassure me it's knowing

that President Bush is going to take a personal interest in this problem and help out the whole country!

Feel better now?

You Betcha!
:)
old hussein

[Hubert Flottz]

15. All he has to offer are lies, tax cuts for the rich and war.

I don't think either one will do any good.

The SPLURGE isn't working...

[charlie]

16. Anyone remember a moment when the Piehole Effect didn't hold?

I don't. The world markets will get a taste of it on Friday. We'll have to invent new descriptors because Crash and Depression won't cut it, something like Smoking Desolation 2008. By November, beads and trinkets will be the new currency.

[aint_no_life_nowhere]

17. My God, We're Saved !!!

All Bush has to do is fart and he brings heavenly blessings down upon one and all. The man is magic.

[Fuzz]

18. Fuck

[lib2DaBone]

19. I say we borrow $500K and go to the Ritz Carlton.... have a party.

[susu369]

20. Bush Seeks To Reassure Americans

"seeks" - he can seek until hell freezes over....