It was the 22nd day among the past 27 that Bush had spoken about the financial crisis, since evidence first arose that the year-old subprime mortgage mess was evolving into a broader and more calamitous meltdown. After the almost 40-minute meeting and his six-minute statement, the president left the White House for a nearly two-hour mountain bike ride in the nearby Virginia woods.

Bush also addressed the crisis in his weekly radio address, as did Democratic vice presidential candidate Joe Biden in delivering his party's response.

Biden criticized Republican nominee John McCain's proposal to solve the problem in part by having the government buy bad home-loan mortgages at full face value and renegotiate them at a reduced price.

Democratic presidential candidate Barack Obama focused on words of calm.

"I know these are difficult times. I know folks are worried," he was to say at a rally in Philadelphia, according to prepared remarks released by his campaign. "But I also know that now is not the time for fear or panic. Now is the time for resolve and steady leadership. Because I know we can steer ourselves out of this crisis."