The Securities Industry and Financial Markets Association's (SIFMA) president and CEO, Tim Ryan, today released the following statement after the House failed to pass the Emergency Economic Stabilization Act (EESA) of 2008:
"It is very disappointing that the House turned down the opportunity to pass major financial legislation which could have provided a bulwark of stability against continuing tough economic times. Without this package, Treasury and the Fed will have to fall back on the one-off solutions they utilized over the last few months which will be exhausting, more expensive and less effective.
"The vote was close, and it continues to be in the best interests of the American economy for Congress, Treasury and the Federal Reserve to agree on a comprehensive package to preserve the availability of all types of credit – for business and consumers – which is the lifeblood of our economy.”
"We are hopeful Members of Congress will work to forge a compromise in the days ahead, and we applaud and encourage those efforts."
FTSE Mondo Visione Exchanges Index:
House Does Not Pass EESA
Date 29/09/2008
