Meeting Monday morning at the White House with Italian Prime Minister Silvio Berlusconi, Bush said he was encouraged both by the agreements made abroad and plans under way in the United States.
"I welcome the bold and specific follow-up actions by European nations to pursue the G-7 [Group of Seven] action plan," Bush said. "And the United States is also acting, and we will continue to implement measures consistent with the G-7 action plan to help banks gain access to capital [and] restore confidence in our financial system."
"We are moving quickly -- but methodically -- but I am confident we are building a foundation for a strong, decisive and effective program," Assistant Treasury Secretary Neel Kashkari, interim bailout package chief, said Monday.
On Monday, the Treasury Department also announced that it had hired the Chicago-based EnnisKnupp and Associates to be its investment adviser. The firm will help the government identify assets that could be purchased from struggling banks under the Emergency Stabilization Act passed by Congress.
Meantime, Speaker of the House Nancy Pelosi, D-Calif., called for a second economic stimulus package Monday to be passed by Congress and said hearings would be held in the coming weeks to consider plans.
"Our country is at a very challenging moment, and we need the best thinking in our country to address those concerns -- concerns of the American people, taxpayers, workers, homeowners," Pelosi said at a morning economic forum. "We need to address the stability of our markets, the stability of our economy. And I am so pleased that we have so many leaders and thinkers in the field with us today."
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