Top lawmakers to Bush: Meet with G8 over economy

WASHINGTON (CNN) -- Congressional leaders Harry Reid and Nancy Pelosi urged President Bush Thursday to call an emergency meeting with the G8 to address international financial instability.

Reid, the Senate majority leader, and House Speaker Pelosi sent a letter urging Bush to set up the meeting, according to a statement released by the two Democrats.

"The American people and the world are looking to the United States for leadership," the letter urged.

"We are writing to support the call for an emergency meeting. ... Doing so will send a strong signal that world leaders recognize the severity of the crisis and that they are committed to taking strong, concerted action to resolve it."

The letter comes at a time that Congress passed a $700 billion bailout bill to abate the U.S. economic crisis. Since the bill was passed last week, U.S. and international stock markets have continued to plummet.

White House Press Secretary Dana Perino's responded to Reid and Pelosi's letter Thursday saying, "We've said we are open-minded about the idea for a meeting."

The G8 is made up of the United States, Japan, Germany, Britain, France, Italy, Canada and Russia.

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