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“The federal government has responded to this crisis with systematic and aggressive measures to protect the financial security of the American people,” he said. “These actions will take more time to have their full impact. But they are big enough and bold enough to work.”

Congress gave the Bush administration the right to buy up to $700 billion worth of bad assets from banks and other institutions to shore up the financial industry. Since Oct. 9, 2007, when the Dow topped 14,000, investors have lost $8.3 trillion from pension funds, college savings plans, 401(k)s and other investments.

Mr. Sarkozy and British Prime Minister Gordon Brown have used the recent global financial crisis to press for major changes in the international economic order dominated by the United States.

At a summit of European leaders last week in Brussels, Mr. Brown and Mr. Sarkozy pushed for reforms of the world’s financial regulatory structure and for new restrictions on speculation, tax havens and hedge funds, which the Bush administration has resisted.

The French president has sharply criticized U.S.-based credit ratings agencies that, he said, had failed to flag huge assets and credit problems on the books of the world’s banks and major investment houses.

“Do we keep them? What do we replace them with? Should they only be American?” Mr. Sarkozy asked.

Although heading a center-right government, Mr. Sarkozy has long been skeptical of “Anglo-Saxon capitalism,” which favors deregulation and less government intervention in the marketplace. Many in Europe see the recent string of government-funded bank bailouts - including the Bush administration’s $700 billion package - as only the latest sign that a new international economic order is needed.

Mr. Sarkozy on Friday repeated his call to overhaul the global financial system so that it can be better supervised in the wake of the crisis.

“Together we need to rebuild a capitalism that is more respectful to man, more respectful to the planet, more respectful to future generations and be finished with a capitalism obsessed by the frantic search for short-term profit,” he said.

France on Monday said it was putting up $491 billion in guarantees to bolster French banks and encourage new lending.

“We had the emerging market crisis, we had the Internet bubble, now we have this massive crisis,” Mr. Sarkozy said in Brussels. European Union nations are united, he added, in calling for the “re-foundation of the international financial system.”

Mr. Brown, who engineered a British bank bailout that the U.S. and other countries have largely accepted as a model, is pushing a plan for regulators in the world’s major economies to coordinate their oversight of the biggest financial firms. He has also pushed for major changes in how the World Bank and International Monetary Fund operate.

David R. Sands contributed to this article, which is based in part on wire service reports.