NY Senator Hillary Clinton Calls On President To Ease Crisis
(New York, NY) -- New York Senator Hillary Clinton is calling for immediate action to ease the credit crunch on Main Street. In a letter to President Bush, Clinton wants 150-billion-dollars of the 700-billion-dollar rescue plan to be set aside for an "Emergency Stabilization Fund." Clinton says this money could be used to establish temporary lines of credit to small businesses, allow schools and universities short term access to funding to reduce the pressure on tuition and to increase direct loans to students, as private lending has dried up. The Senator says "we are helping to keep large Wall Street firms afloat with lines of credit and we should do the same for small Main Street businesses." Clinton says the rescue plan might not work quickly enough to prevent additional job losses and tuition hikes and therefore should be supplemented by immediate action. |