Jeannine Aversa
Associated Press
November 24, 2008
- A d v e r t i s e m e n t
The “first step” in helping the nation recover from its economic turmoil is to “safeguard our financial system,” President Bush said on Monday, after meeting at the Treasury Department with Secretary Henry Paulson.
Bush spoke hours after the government agreed to assume hundreds of billions of dollars in possible losses at Citigroup and to inject another $20 billion into the company – on top of an earlier $25 billion cash infusion.
“We have made these decisions in the past. We made one last night, and if need be, we’re going to make these kinds of decisions to safeguard our financial system in the future,” Bush said Monday morning.
Bush said he informed President-elect Barack Obama about the decision to give Citigroup another cash infusion.
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