George W. Bush

Kuwait is a strategic partner of the United States, and our discussion today was befitting of our strategic partnership.

This is a pivotal moment for America's economy.

Confidence in our financial system and in its institutions is essential to the smooth operation of our economy.

I do want to thank Your Excellency for naming an Ambassador to Iraq.

The actions I've just outlined reflect the considered judgment of Secretary Paulson, Chairman Bernanke, and Chairman Cox.

I approve the use of funds from the Exchange Stabilization Fund to provide up to $50 billion as a guaranty facility for certain money market mutual funds.

This is a decisive step that will address underlying problems in our financial system.

The Federal Reserve is also taking steps to provide additional liquidity to money market mutual funds, which will help ease pressure on our financial markets.

I also want to thank you for being such a good security partner in the region.

We will weather this challenge too, and we must do so together.

We must act now to protect our Nation's economic health from serious risk.

America's economy is facing unprecedented challenges, and we are responding with unprecedented action.

I am continuing for 1 year the national emergency with respect to persons who commit, threaten to commit, or support terrorism.

I declared a national emergency with respect to persons who commit, threaten to commit, or support terrorism.

This week the Federal Reserve acted to prevent the disorderly failure of the insurance company AIG.

The American people can be sure we will continue to act to strengthen and stabilize our financial markets and improve investor confidence.

The actions of these persons who commit, threaten to commit, or support terrorism continue to pose an unusual and extraordinary threat to the United States.

We've taken control of Fannie Mae and Freddie Mac to help promote market stability and to ensure they can continue to play a role in helping our housing market recover.

These actions are necessary, and they're important, and the markets are adjusting to them.

Just as there is no verifiable evidence to conclude that oil speculators were behind the rise in oil prices in the first half of the year, there is no verifiable evidence that speculators were behind its recent decline.

I took this action to deal with the unusual and extraordinary threat to the national security, foreign policy, and economy of the United States.

The American people are concerned about the situation in our financial markets and our economy, and I share their concerns.

There is no verifiable evidence to conclude that oil speculators were behind the rise in oil prices in the first half of the year.

I have determined that it is necessary to continue the national emergency declared with respect to persons who commit, threaten to commit, or support terrorism.

I've canceled my travel today to stay in Washington, where I will continue to closely monitor the situation in our financial markets and consult with my economic advisers.