Area Businesses Mad About Financial Crisis

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(Sacramento, CA)
Wednesday, October 1, 2008

Douglas Wilhoit says small business owners are mad that something wasn’t done sooner to avoid the current financial crisis. 

"They talk about Wall Street and Main Street. These people have never walked on Main Street in Washington D.C. Businesses are having to cut back on employees which affects families. The cost of their goods to provide to the public is going up and people are scared and people are worried and people are angry."  

California Chamber of Commerce CEO Allan Zaremberg has urged federal lawmakers to quickly pass a plan to stabilize the financial markets.

Congressional leaders hope a tweaked financial rescue plan will net enough new supporters to pass. The plan would more than double the insurance on bank deposits to $250,000 and also includes new tax breaks.

Its first test is Wednesday night in the Senate.