U.S. President George Bush said he canceled his travel plans to Florida and Alabama Thursday to remain in Washington to work on the financial crisis.

"In recent weeks, the federal government has taken extraordinary measures to address the challenges confronting our financial markets," Bush said a statement, citing the government's taking control of home mortgage agencies Fannie Mae and Freddie Mac and loaned funds to bail out insurance giant AIG.

"Yesterday (Wednesday), the Security and Exchange Commission took action to strengthen investor protections and step up its enforcement actions against illegal market manipulation," Bush said "Last night, the Federal Reserve, in coordination with central banks around the world, took a substantial step to provide additional liquidity to the U.S. financial system."

Bush said the actions were necessary and important and "the markets are adjusting to them."

Americans "can be sure we will continue to act to strengthen and stabilize our financial markets and improve investor confidence, he said.

U.S. Vice President Dick Cheney would attend fundraisers in Alabama and Florida, but a tour of a waste-to-energy facility in Huntsville, Ala., has been canceled, White House spokesman Tony Fratto said Wednesday night.