Bush assures world US rescue bill will be passed

US President George W Bush issued a call for decisive action from Congress this morning at the White House.

The President says he is disappointed the bill was thrown out yesterday but that the legislative process will continue and there will soon be a rescue bill passed that will address the current trauma gripping the market.

Bush says: “I assure citizens around the world that this is not the end of the legislative process.

“We’re at a critical moment for our economy and need action that decisively addresses the troubled assets that are now clogging the financial system, helps lenders to resume the flow of credit to consumers and businesses and allows the American economy to get moving again.”

He reminded citizens that while $700bn is a large sum of money it would be recouped and that when the bill did not pass nearly $1trillion were lost as a result of shares falling due to the uncertainty caused.