With the country’s premiere financial institutions keeling over one by one, someone at the White House figured that it probably wasn’t good PR to have the president traipsing about to fundraisers while the financial sytem collapsed before the nation’s eyes. Not that he’s actually going to offer any words of wisdom or anything. WSJ:
The move came a few hours before central banks in the U.S., Europe and Japan announced new coordinated moves. That overnight announcement was designed to address increasing problems in global financial markets, as weakness on Wall Street spreads.
Mr. Bush had planned a politically-oriented event on Thursday to tout his energy program, with a tour of a waste-to-energy plant in Huntsville, Ala. He also planned political fundraisers in Alabama and Florida, before returning to Washington later in the day. In a highly unusual move, the White House announced Mr. Bush’s schedule change shortly after 11 p.m. Wednesday.
“President Bush is cancelling his planned travel to Alabama and Florida tomorrow, and will instead remain in Washington to continue to work with his economic advisers on the serious challenges confronting our financial markets,” spokesman Tony Fratto said. “The health of our financial markets is critical to the nation’s economy, and the president remains focused on taking action to stabilise and strengthen our markets and to restore investor confidence.”
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