Bush on Lehman Meltdown

Amanda Carpenter
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Posted: Sep 15, 2008 11:01 AM
President Bush briefly addressed the Lehman meltdown this morning, describing the bankruptcy as an "adjustment."

"We are working to reduce the disruption and minimize the impact of these financial developments on the broader economy," he said giving no details about exactly what this would entail.

Bush said the collapse "can be painful" but was confident the economy was resilient enough to absorb the shock.