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President Bush Meets with Secretary of the Treasury Henry Paulson
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For Immediate Release Office of the Press Secretary November 24, 2008

President Bush Meets with Secretary of the Treasury Henry Paulson Treasury
Department Washington, D.C.

˙ /news/releases/2008/11/20081124.wm.v.html ˙˙Presidential Remarks
˙˙Audio

˙˙˙˙˙ In Focus: Economy

10:25 A.M. EST

THE PRESIDENT: Mr. Secretary, thank you very much for inviting me in for a
cup of coffee. The Secretary and I share the concerns of our citizens,
concerns about jobs, concerns about their savings accounts. This is a tough
situation for America. But we'll recover from it. And the first step to
recovery is to safeguard our financial system.

Last night on Air Force One coming back from Peru, I talked at length to
the Secretary about his recommendation. The decision was made to safeguard
Citi -- Citicorps(*). We have made these kind of decisions in the past --
made one last night. And if need be, we're going to make these kind of
decisions to safeguard our financial system in the future.

I talked to President-elect Obama about the decision we made. I told the
American people, and I told the President-elect when I first met him, that
anytime we were to make a big decision during this transition, he will be
informed, as will his team.

Secretary Paulson is working closely with the President-elect's transition
team. It's important for the American people to know that there is close
cooperation. It's important for the American people to know that we will
safeguard the financial system as the first step necessary for financial --
or for economic recovery. And so, Mr. Secretary, thanks for your hard work.
Appreciate it. Thank you.

END 10:27 A.M. EST

(*) Citigroup
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