Obama says hard work needed on economic crisis

Discussion Policy

Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post.

By NEDRA PICKLER

The Associated Press
Friday, November 7, 2008; 3:52 PM

CHICAGO -- President-elect Obama says the hardships many Americans are suffering economically are an "urgent reminder" that the nation's leaders must act swiftly to stabilize the financial industry.

Obama held his first news conference since being elected Tuesday to succeed President Bush. Surrounded by a large group of economic advisers, he said he has asked his transition team, specifically, to work on some ideas to help the staggering auto industry.

Rep. Rahm Emanuel, Obama's newly chosen White House chief of staff, was among those who stood at his side, along with former Federal Reserve Chairman Paul Volcker and Michigan Gov. Jennifer Granholm.