Bush Offers No New Actions In National Address

President George Bush urged the American people to be confident but offered no new policy proposals or actions to solve the financial crisis gripping world markets, saying that the government has already taken actions to cope. (Washington Post) His 10:25am address listed measures the U.S. government has already taken: liquidity injections by the Federal Reserve, coordinated interest rate cuts, support for commercial paper, raising FDIC deposit guarantees to $250,000, including money market accounts, enforcing anti-fraud laws, the HOPE NOW initiative to reconcile mortgage borrowers and lenders, encouraging FHA refinancing with existing assistance programs, meeting with G7 finance ministers, and the $700 billion ‘rescue’ package. (White House) After reading his prepared statement, Bush took no questions and left on a Republican Party fundraising trip to Florida.

Video (White House).