House Republican leader says must protect taxpayer

WASHINGTON (Reuters) - The Republican leader of the House of Representatives said on Friday his party understood the United States was "on the edge of an economic crisis," but that any legislation to stem a financial crisis must protect taxpayers.

"I believe and my colleagues believe that America is on the edge of an economic crisis. We believe that Congress needs to act and we need to act quickly," said House Republican leader John Boehner of Ohio. "But ... we need to act quickly and protect the American taxpayer first and foremost."

Appearing with Boehner after a meeting of House Republicans, another member of the Republican leadership, Rep. Roy Blunt of Missouri, said House Republicans were prepared to negotiate with Democrats if Democrats wanted to ensure widespread support for any plan.

(Reporting by Tim Ahmann, Editing by Chizu Nomiyama)