President Obama: "We will Not Be Terrorized"

President Obama declared that "justice will be done" when he opened his remarks before the Business Council by updating Americans on the investigation and arrest of a suspect in the Times Square Bombing attempt.  He called the failed attack "another sobering reminder of the times in which we live."

He praised the citizens and police authorities that helped locate the smoking vehicle and clear Times Square saying they "saved hundreds of lives."

On the failed bombing, President Obama reminded Americans "we will not be terrorized.  We will not cower in fear."