NAHB: treasury's rescue plan must pass
During its board of directors meeting in San Diego, CA, the leadership of the National Association of Home Builders (NAHB) unanimously called on Congress to act now before conditions deteriorate to a point that could trigger a global financial meltdown.
"We agree with Fed Chairman Bernanke and Treasury Secretary Paulson that immediate steps need to be taken to stem the financial crisis. The financial markets are in turmoil and the flow of credit has been severely curtailed for housing and other sectors of the economy," said NAHB President Sandy Dunn, a home builder from Point Pleasant, W.Va. "There's no time to waste. Congress must pass legislation as soon as possible."