The White House, President George W. Bush Click to print this document

For Immediate Release
Office of the Press Secretary
October 7, 2008

Fact Sheet: Taking Urgently Needed Action to Stabilize Our Markets
President Bush Lays Out Steps The Federal Government Is Taking To Address The Financial Crisis

     Fact sheet President Bush Discusses Emergency Economic Stabilization Act of 2008
     Fact sheet In Focus: Economy

Today, President Bush visited Guernsey Office Products in Chantilly, Virginia, and discussed the Emergency Economic Stabilization legislation he signed last week in response to the financial crisis.  As our markets begin to stabilize over time, it will help calm markets overseas. 

The Administration Is Taking A Series Of Steps To Help American Businesses And Families

These steps will help bring stability to our volatile markets, and help protect the value of Americans' retirement accounts and 401ks – but it will take time for them to have their full effect.  Thawing the freeze in the financial system will not happen overnight.  It will be a process that unfolds over several stages:

The financial rescue plan will provide the government a range of tools to help banks rebuild capital in order to get more credit flowing to consumers and businesses.  The bill also protects responsible, hardworking Americans by:

President Bush has remained in close contact with European leaders to ensure that our actions are closely coordinated.  Finance Ministers and Central Bank Governors from the G-7 and other leading nations will be meeting this weekend. 

In Addition To The Financial Crisis, We Must Address All Challenges Of Our Economy

President Bush has proposed targeted and practical steps for the Federal government to help our economy through this difficult period.  Although the passage of the financial rescue legislation is helpful, the economy continues to face several additional challenges.  

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