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Photograph, above, of Treasury Secretary Henry Paulson standing behind President Bush during this morning's press conference by Evan Vucci/AP; photograph, below, of Bush with finance ministers from G7 nations by Charles Dharapak/AP

This morning, President Bush held a press conference to discuss his meeting with finance ministers from the G7 nations--Canada, France, Germany, Great Britain, Italy, and Japan--trying to calm down Americans worried about the economy. He noted the actions that Treasury Henry Paulson and the Federal Reserve are already undertaking (and asked for patience). Bush also emphasized that the world is working together:2008_10_bushg7.jpg

The G7 nations have pledged to take decisive action to support systemically important financial institutions and prevent their failure, provide robust protection for retail bank deposits, and ensure financial institutions are able to raise needed capital. We've agreed to implement strong measures to unfreeze credit, ensure access to liquidity, and help to restart the secondary markets for mortgages and other assets. We've all agreed that the actions we take should protect our taxpayers. And we agreed that we ought to work with other nations such as those that will be represented this afternoon in the G20 forum.

As our nations carry out this plan, we must ensure the actions of one country do not contradict or undermine the actions of another. In our interconnected world, no nation will gain by driving down the fortunes of another. We're in this together. We will come through it together.

He ended with, "We will stand together in addressing this threat to our prosperity. We will do what it takes to resolve this crisis. And the world's economy will emerge stronger as a result." (Full transcript here.)

The global economies were battered this past week, with the Dow ending below 8,500 points.