President-elect Obama makes an opening statement on the economy during a press conference in Chicago, Friday, Nov. 7, 2008. Standing behind Obama are (L-R) Vice President-elect Biden, Michigan Governor Jennifer Granholm, Former FED Chairman Paul Volcker and newly appointed Chief of Staff Rahm Emanuel. [Charles Dharapak/AP Photo]

That includes creating jobs and stabilizing the financial markets, while helping homeowners, growing the middle class, and strengthening the economy in the long term.

Barack Obama, US President-elect, said, "We are facing the greatest economic challenge of our lifetime, and we must act swiftly to resolve them. In the wake of these disturbing reports, I met with members of my Transition Economic Advisory Board, who will help guide the work of my transition team in developing a strong set of policies to respond to this crisis. While we must recognize that we only have one president at a time and that President Bush is the leader of our government, I want to ensure that we hit the ground running on January 20th because we don't have a moment to lose. We discussed several of the most immediate challenges facing our economy and key priorities on which to focus in the days and weeks ahead to ease the credit crisis, help hardworking families, and restore growth and prosperity."

(CCTV November 10, 2008)