{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='US weighing financial crisis plan; Congress leaders briefed' data-url='/boclips/videos/5c54bc5cd8eafeecae12c110' data-video-url='/boclips/videos/5c54bc5cd8eafeecae12c110' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nUS weighing financial crisis plan; Congress leaders briefed\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. US Treasury Secretary Henry Paulson arrives on Capitol Hill for meeting with congressional leaders2. US Federal Reserve Chairman Ben Bernanke arrives for meeting3. Securities and Exchange Commission Chairman Christopher Cox arrives...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. US Treasury Secretary Henry Paulson arrives on Capitol Hill for meeting with congressional leaders\u003cbr/\u003e2. US Federal Reserve Chairman Ben Bernanke arrives for meeting\u003cbr/\u003e3. Securities and Exchange Commission Chairman Christopher Cox arrives for meeting\u003cbr/\u003e4. Wide of meeting with congressional leaders seated to left of screen and Bush administration officials to right\u003cbr/\u003e5. Push in to Cox, Paulson, and Bernanke seated across table from US House Speaker Nancy Pelosi\u003cbr/\u003e6. Pan to Pelosi, seated in between Senate Majority leader Harry Reid (to her right) and House Minority Leader John Boehner (to her left)\u003cbr/\u003e7. UPSOUND (English) Nancy Pelosi, Speaker of the House:\u003cbr/\u003e\"Good evening. I'm very pleased to welcome the Democratic and Republican leadership of the House and Senate, as well as the representatives of the administration led by Secretary Paulson and independent agencies, Mr. Chris Cox and Chairman Bernanke. Thank you all for joining us as we come together understanding that we have a financial crisis in our country, that we're here to work together for solutions that resolve that crisis in a way that insulates the tax payers, consumers, main street, from the crisis on Wall Street. Thank you all very much. Good night.\"\u003cbr/\u003e8. SOUNDBITE: (English) Nancy Pelosi, Speaker of the House: \u003cbr/\u003e\"Good evening. We just had what I believe was a very productive meeting where we heard from the administration and from the chairman of the Fed, an initiative to help resolve the financial crisis in our country. Our purpose is to do that and in doing so, to insulate Main Street from Wall Street and recognise our responsibility to the tax payer, to the consumer, and to people all across our country.\"\u003cbr/\u003e9. SOUNDBITE: (English) Henry Paulson, US Treasury Secretary: \u003cbr/\u003e\"What we are working on now is an approach to deal with the systemic risk and the stresses in our capital markets and we've talked about a comprehensive approach that will require legislation to deal with illiquid assets on financial institutions of the United States on their balance sheet.\"\u003cbr/\u003e10. SOUNDBITE: (English) Ben Bernanke, US Federal Reserve Chairman:\u003cbr/\u003e\"I thank the Congressional leadership for a very, very positive meeting. We look forward to working closely with Congress to resolve this financial crisis and get our economy moving again. Thank you very much.\"\u003cbr/\u003e11. Wide of officials exiting\u003cbr/\u003eUS Treasury Secretary Henry Paulson said the government was crafting a plan to rescue banks from bad debts that were at the heart of Wall Street's worst financial crisis in decades.\u003cbr/\u003ePaulson said late on Thursday the plan would need congressional approval.\u003cbr/\u003eHe and Federal Reserve Chairman Ben Bernanke briefed lawmakers on the options they were considering.\u003cbr/\u003e\"What we are working on now is an approach to deal with the systemic risk and the stresses in our capital markets and we've talked about a comprehensive approach that will require legislation to deal with illiquid assets on financial institutions of the United States on their balance sheet,\" Paulson said at a news conference in Washington on Thursday. \u003cbr/\u003ePaulson, Bernanke and Securities and Exchange Commission chair Christopher Cox asked lawmakers at the session to pass legislation giving the government power to buy distressed assets.\u003cbr/\u003eStocks rallied more than 400 points late on Thursday after a report that the Bush administration was working on a new plan to alleviate fallout from the housing and credit crises. \u003cbr/\u003eThose debacles have badly bruised the economy and pushed unemployment to a five-year high.\u003cbr/\u003eEarlier, officials from President George Bush's economic team briefed lawmakers on Capitol Hill, on possible government efforts to ease the worst US financial crisis Wall Street's seen in decades.\u003cbr/\u003ePresident Bush cancelled an out-of-town trip on Thursday to stay in Washington and meet with his top economic advisers.\u003cbr/\u003eBush held a 40-minute meeting with Bernanke, Paulson, and Cox along with White House and Treasury Department aides.\u003cbr/\u003ePaulson, Cox and Bernanke briefed congressional leaders in House Speaker Nancy Pelosi's office on Thursday evening.\u003cbr/\u003eAt the top of the meeting, Pelosi, made clear that any potential action must protect taxpayers who are already on the hook for potentially billions of dollars in bailouts to financial firms taken down by the financial crisis. \u003cbr/\u003e\"We come together understanding that we have a financial crisis in our country, that we're here to work together for solutions that resolve that crisis in a way that insulates the tax payers, consumers, main street, from the crisis on Wall Street. \" she said. \u003cbr/\u003ePelosi wrote to Bush on Thursday saying Congress would meet beyond its planned 26 September adjournment, if necessary, \"to consider legislative proposals and conduct necessary investigations\" related to the financial crisis.\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan 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