WASHINGTON, D.C. – The Financial Services Forum's President and COO Rob Nichols released the following statement in response to the announcement of the Emergency Economic Stabilization Act of 2008:
"The Forum applauds Congress and the Administration for putting together a thoughtful, bipartisan, and innovative plan to address the current financial crisis. Congress should be commended for placing the financial health of our country and the jobs, savings, and homes of Americans ahead of partisan politics. This plan is necessary to restart the credit markets and put the U.S. economy back on a path to recovery and economic growth.
"Just as the cardiovascular system is the essential, life-sustaining system of the body, the financial system is the essential basis upon which the growth and vitality of all other sectors of the economy depend. Money and credit are the lifeblood of any economy’s strength and well-being, enabling the investment, research, and risk-taking that fuels growth, competition, innovation, productivity, and prosperity.
"We believe this legislation is critically important and should be enacted into law at the earliest possible time in order restore market stability and increase credit availability for Americans. We urge members of the House of Representatives to support this legislation today."
For press inquiries please contact:
Vice President for Communications
Phone: (202) 457-8783
Senior Associate for Communications & Social Media
Phone: (202) 457-8759
The Financial Services Forum is a non-partisan financial and economic policy organization comprising the CEOs of 19 of the largest and most diversified financial services institutions doing business in the United States.
The purpose of the Forum is to pursue policies that encourage savings and investment, promote an open and competitive global marketplace, and ensure the opportunity of people everywhere to participate fully and productively in the 21st-century global economy.