U.S. President George W. Bush said on Monday he was disappointed that the House of Representatives voted down a $700 billion plan to rescue the financial system but said he would continue to confront the problem head-on. "I was disappointed in the vote that the United States Congress had on the economic rescue plan," Bush told reporters after a meeting with Ukraine President Viktor Yushchenko. "We put forth a plan that was big because we've got a big problem."
As the markets plummeted after the House voted down the rescue package negotiated between the administration and lawmakers, Bush said he would meet with his economic advisers and work with congressional leaders to plot a way forward.
The Dow Jones industrials suffered its worst single-day point decline ever Monday, losing some 738 points, after US lawmakers rejected the rescue of the financial system. "Our strategy is to continue to address this economic situation head-on and we'll be working to develop a strategy that will enable us to continue to move forward," Bush said. |