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Bush: 'We can solve this crisis and we will'
President makes statement about progress in tackling credit crisis
The Associated Press
updated 10:31 a.m. ET, Fri., Oct. 10, 2008
WASHINGTON - President Bush sought to ease fears about the economy in a statement to the nation about government's progress in addressing the credit crisis that has caused substantial sell-offs on Wall Street.

"We can solve this crisis and we will," Bush said.

Bush a week ago signed a $700 billion bailout bill into law. In advance of what is expected to be reassuring words from the president, the Dow Jones industrials plunged below the 8,000 level in early trading Friday before bouncing off the lows.

White House press secretary Dana Perino said Thursday night that the Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corporation all have the necessary tools to deal with the problem.

Bush will deliver his remarks from the White House Rose Garden at around 10:25 a.m ET.

Meetings with G-7 leaders
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.

Bush's statement reflects a nonstop effort by the president to show he is on top of a crisis that could help define his presidency.


Since news of the government bailout of the financial industry first broke, Bush has commented on the economy on 19 of the past 22 days.

Perino said Bush, after his statement on Friday, would proceed with his scheduled trip to Coral Gables, Fla., and Kiawah Island, S.C., for political fundraisers and a meeting with the Republican National Committee. He also will meet with representatives of the Cuban-American community in Florida.