Bush to address financial crisis in U.N. speech

Other News Materials 23 September 2008 19:06 (UTC +04:00)

President Bush is speaking at the United Nations today, where he will seek to reassure world leaders about the U.S financial crisis, fox28.com reported.

It's the president's last speech to the U.N. General Assembly -- one he'd planned as a call for stronger international institutions to spread freedom and battle terrorism.

The speech has been reworked to include assurances that the administration is moving aggressively to avoid a worldwide financial meltdown.

The administration is still wrangling over terms of the bailout plan. It has agreed to an oversight board to guide the buy-up of bad loans, and to protect homeowners from foreclosure over a government-acquired mortgage.

But it's still balking at Democratic calls to curb excessive payouts to executives of companies the government has to rescue.

The President is expected to begin at approximately 10:30 am EDT.