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Community campaign collecting donations for Haiti victims
Texas company buys vast gas resources
Zips nip Chipps with late barrage
Boys basketball: Buchtel 89, Garfield 62
Council OKs grant to bring jobs to Green
Welcome to Akron's 'new' neighborhood
Obituary: Hoban's Tom Goodall felt obliged to share everything he had
Most Read Stories
Man robbed at Tallmadge Avenue eatery
Another winter punch heading toward Ohio
Four teens restrain man, take items from his Akron home
Complaints against officer keep coming
Police: Ohio girl dies after fall into snow bank
Region makes way for latest batch of snow; cancellations rise
Cuyahoga Falls residents come home to find burning couch on balcony
Police: Man tries to buy crack with credit card
Cleveland named worst U.S. city for winter weather; Columbus is No. 8
Man admits stealing TV from Akron home
Woman rescued after falling through rotting floor in house
Blogs:
First Bell - On Education:
No City of Akron basketball tonight
Pets:
Pet telethon re-airs
The Heldenfiles:
Chipmunks "Squeakquel" on DVD/BD March 30
Akron Zips:
Late surge gives Zips ugly road win
Tribe Matters:
Blogmail response on Hafner
Cleveland Browns:
Stallworth's contract terminated
Balanced Ledger:
QB in Browns future: another mock draft
Kent State Sports:
KSU Notes – February 9
Cleveland Cavaliers:
NBA Power Rankings from Around the Internet
Buckeye Blogging:
Buckeyes grab 18 players on signing day
Varsity Letters:
Garfield at Buchtel basketball
All Da King's Men:
Palin At The Tea Party Convention
Blog of Mass Destruction:
Republican Pre-Conditions
Akron Law Café:
Citizens United v. F.E.C. (Part 4): Kennedy's and O'Connor's Basic Approaches to Constitutional Decisionmaking – Top Down and Bottom Up
Car Chase:
Collector Car Hobby Loses One of the Best—Jim Roll
Let's Talk Real Estate:
Decisions Decisions: Credit Cards or Your Mortgage?
Ohio Travels with Betty:
Loucile is looking for a Lake Erie getaway in June for three kids, ages 1, 3, and 5.
Sound Check:
Talk of the Town – Top entertainment picks for the weekend
HRLite House:
OFCCP Report
Akron Gamer:
Makers of 'Castle Crashers' unveil 'BattleBlock Theater'
See Jane Style:
Do IT this week: Layering
By Ben Feller
Associated Press writer
POSTED: 11:00 a.m. EDT, Mar 17, 2008
WASHINGTON: President Bush, trying to calm turmoil in financial markets, said today that his administration is ''on top of the situation'' in dealing with the slumping economy.
''One thing is for certain, we're in challenging times,'' the president said after meeting with Treasury Secretary Henry Paulson and other senior economic advisers. ''But another thing is for certain: We've taken strong, decisive action.''
The president commended the Federal Reserve for its urgent actions over the weekend. He praised Paulson for working with the Fed and showing ''the country and the world that the United States is on top of the situation.''
Bush spoke on a day of turmoil and plunging prices on global financial markets. Oil prices hit a record in Asian trading, U.S. stock index futures fell sharply and the dollar hit record lows.
The White House moved quickly to raise Bush's public profile Monday, and he continued to send an upbeat message, even in acknowledging a downturn that keeps roiling the economy and the country's people as well.
Bush said ''our financial institutions are strong'' and ''our capital markets are functioning efficiently and effectively.''
Still, Bush said his administration is monitoring economic developments closely.
''When need be, we'll act decisively in a way that continues to bring order to financial markets,'' Bush said.
He did not indicate any other steps his government might take, or when.
''In the long run, our economy is going to be fine,'' Bush said. ''Right now we're dealing with a difficult situation.''
The Federal Reserve, in an extraordinarily rare weekend move, became a lender of last resort for Wall Street investment houses to begin securing short-term emergency loans. The central bank also approved a cut in its emergency lending rate to financial institutions to 3.25 percent from 3.50 percent.
White House press secretary Dana Perino said later that Bush had been kept informed of the Fed's intended actions through a variety of people, but that he was not personally involved in making or approving the decision.
She defended the dramatic intervention on behalf of the financial markets as necessary, even as Bush himself warned only on Friday against excessive government intervention in the housing markets. ''The concern about possible future market disruptions is real, and a concern not only just to the president but also to world markets,'' Perino said.
She also said the administration was taking action to help individual homeowners suffering from higher mortgage defaults, and that there is ''a responsibility on the part of the media to really explain'' that assistance.
Later today, Bush was to meet with his Working Group on Financial Markets, which includes Paulson, Federal Reserve Chairman Ben Bernanke and Securities and Exchange Commission Chairman Christopher Cox.
WASHINGTON: President Bush, trying to calm turmoil in financial markets, said today that his administration is ''on top of the situation'' in dealing with the slumping economy.
''One thing is for certain, we're in challenging times,'' the president said after meeting with Treasury Secretary Henry Paulson and other senior economic advisers. ''But another thing is for certain: We've taken strong, decisive action.''
The president commended the Federal Reserve for its urgent actions over the weekend. He praised Paulson for working with the Fed and showing ''the country and the world that the United States is on top of the situation.''
Bush spoke on a day of turmoil and plunging prices on global financial markets. Oil prices hit a record in Asian trading, U.S. stock index futures fell sharply and the dollar hit record lows.
The White House moved quickly to raise Bush's public profile Monday, and he continued to send an upbeat message, even in acknowledging a downturn that keeps roiling the economy and the country's people as well.
Bush said ''our financial institutions are strong'' and ''our capital markets are functioning efficiently and effectively.''
Still, Bush said his administration is monitoring economic developments closely.
''When need be, we'll act decisively in a way that continues to bring order to financial markets,'' Bush said.
He did not indicate any other steps his government might take, or when.
''In the long run, our economy is going to be fine,'' Bush said. ''Right now we're dealing with a difficult situation.''
The Federal Reserve, in an extraordinarily rare weekend move, became a lender of last resort for Wall Street investment houses to begin securing short-term emergency loans. The central bank also approved a cut in its emergency lending rate to financial institutions to 3.25 percent from 3.50 percent.
White House press secretary Dana Perino said later that Bush had been kept informed of the Fed's intended actions through a variety of people, but that he was not personally involved in making or approving the decision.
She defended the dramatic intervention on behalf of the financial markets as necessary, even as Bush himself warned only on Friday against excessive government intervention in the housing markets. ''The concern about possible future market disruptions is real, and a concern not only just to the president but also to world markets,'' Perino said.
She also said the administration was taking action to help individual homeowners suffering from higher mortgage defaults, and that there is ''a responsibility on the part of the media to really explain'' that assistance.
Later today, Bush was to meet with his Working Group on Financial Markets, which includes Paulson, Federal Reserve Chairman Ben Bernanke and Securities and Exchange Commission Chairman Christopher Cox.
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