U.S. President George Bush says the government could make more decisions like the bailout of banking giant Citigroup, to safeguard the financial system in the future.
Mr. Bush told reporters today (Monday) he spoke with President-elect Barack Obama about the Citigroup rescue plan and said he will keep the incoming leader informed of any big decisions. Mr. Bush spoke after meeting Treasury Secretary Henry Paulson in Washington.
The U.S. government agreed Sunday to guarantee 306 billion dollars worth of Citigroup's risky loans and assets. The rescue plan also gives Citigroup another 20 billion dollars to stabilize the company after its stocks lost 60 percent of their value last week week.
In return, the government will get a stake in the company. Citigroup has operations in more than 100 countries. Financial analysts had warned its collapse would seriously hurt the already crippled global economy. doleezza Rice met with the son of Libyan leader Moammar Gadhafi and urged the release of a jailed political dissident.