Bush says it will take time to unfreeze credit

(AP) - President Bush says the United States'"serious financial crisis" has moved beyond Wall Street. But hesays Americans can be confident government actions will set thingsright over time. The president

News 12 Staff

Oct 17, 2008, 3:52 PM

Updated 5,746 days ago

Share:

(AP) - President Bush says the United States'"serious financial crisis" has moved beyond Wall Street. But hesays Americans can be confident government actions will set thingsright over time.
The president cautioned that it will take time to thaw out thefrozen credit system so that people and businesses can get theloans they need to get the economy moving.
Bush, offering his reassurances in a speech to the U.S. Chamberof Commerce Friday, said the rescue moves are "big enough and boldenough to work."
He says the U.S. is working with European nations to resolvewhat has become a global crisis. He said, "We're determined toovercome this challenge together." Click here to watch President Bush's speech


More from News 12
2:07
STORM WATCH: Heavy rain expected today in New Jersey; weekend sees return of scorching temps

STORM WATCH: Heavy rain expected today in New Jersey; weekend sees return of scorching temps

0:32
East Brunswick teen accused of plotting to destroy energy facilities to advance white supremacist views

East Brunswick teen accused of plotting to destroy energy facilities to advance white supremacist views

10 'underperforming' Stop & Shop stores in New Jersey set to close in 2024

10 'underperforming' Stop & Shop stores in New Jersey set to close in 2024

2:36
Red Bank sewage main seeps into nearby storm drains

Red Bank sewage main seeps into nearby storm drains

0:13
Sailor saved from capsized sailboat in Barnegat Bay

Sailor saved from capsized sailboat in Barnegat Bay

0:40
United Airlines flight from Miami to Newark diverted after passenger fights with flight attendant

United Airlines flight from Miami to Newark diverted after passenger fights with flight attendant

Fairfield police release new surveillance photos of missing 16-year-old

Fairfield police release new surveillance photos of missing 16-year-old

1:58
PSE&G: Roads reopen in Union City following emergency repairs on ruptured gas line

PSE&G: Roads reopen in Union City following emergency repairs on ruptured gas line

0:26
AT&T 2022 security breach hits nearly all cellular customers and landline accounts with contact

AT&T 2022 security breach hits nearly all cellular customers and landline accounts with contact

0:35
Coach USA cutting 20 NJ Transit bus routes in North Jersey

Coach USA cutting 20 NJ Transit bus routes in North Jersey

0:24
USDA: Health alert issued for ready-to-eat meat illegally imported from the Philippines

USDA: Health alert issued for ready-to-eat meat illegally imported from the Philippines

0:33
Caught on camera: Car burglar enters unlocked vehicles in Gloucester Township

Caught on camera: Car burglar enters unlocked vehicles in Gloucester Township

0:18
NJ Transit: North Jersey Coast Line rail service resumes; commuters frustrated over continued issues

NJ Transit: North Jersey Coast Line rail service resumes; commuters frustrated over continued issues

2:03
Paws & Pals: Moose now up for adoption with Brick City Rescue

Paws & Pals: Moose now up for adoption with Brick City Rescue

1:34
The Real Deal: How to beat inflation with a summer spending plan

The Real Deal: How to beat inflation with a summer spending plan

2:03
Closing arguments wrap up in Sen. Menendez corruption trial; deliberations begin Friday

Closing arguments wrap up in Sen. Menendez corruption trial; deliberations begin Friday

1:56
Police: 8-year-old fatally struck by car while riding bike in Morris County

Police: 8-year-old fatally struck by car while riding bike in Morris County

1:49
Storm Watch Team Meteorologist Skyler Harman looks back at Tropical Storm Fay and ahead to 2024 hurricane season

Storm Watch Team Meteorologist Skyler Harman looks back at Tropical Storm Fay and ahead to 2024 hurricane season

1:41
Avon man charged after crashing into, driving along Belmar boardwalk

Avon man charged after crashing into, driving along Belmar boardwalk

1:05
Belmar lifeguards take the crown in annual tournament

Belmar lifeguards take the crown in annual tournament