Bush seeks to calm markets ahead of G-7 meeting

"We will continue to act to resolve this crisis and restore stability to our markets." Washington -- President George W. Bush offered assurances Friday that the US government was doing all it could to keep the world's largest economy afloat, as global stocks were in free-fall and ministers from the world's richest nations prepared for a crucial meeting. Bush said a "startling" drop in US stocks in the last few days was being "driven by uncertainty and fear" and insisted the US already had all the tools necessary to resolve the financial crisis. "This has been a deeply unsettling period for the American people," Bush acknowledged. "We will continue to act to resolve this crisis and restore stability to our markets." US stocks have plummeted more than 10 percent in the past three days and continued falling on a wild trading day... [read full story]