Sept. 30 (Bloomberg) -- Officials from microsoft to office depo and Schering-Plough Corp. said the government's failure to bail out the U.S. banking industry put the ``entire economy'' at risk unless a deal comes soon.
``The various sectors of the economy are so intricately linked, we need to recognize that the entire economy turns on what happens here,''
The liquidity crisis has spread beyond Wall Street, threatening earnings at businesses from retailers to technology companies. The Treasury's toolkit to protect the financial system is ``substantial but insufficient'' after the $700 billion bailout failed to pass, Paulson said yesterday.
``I absolutely cannot believe it,'' said David Cosper, chief financial officer of Sonic Automotive Inc., the third- largest U.S. publicly traded auto retailer. ``I don't think the House knows what they're doing. We need this, the markets are frozen, banks are being taken over -- it's a crisis. I think they're leaving it in the lurch and going on a break.''
``We are witnessing a most unfortunate and untimely collision of politics and economics,'' Miller said. ``This is not just about Wall Street. It is affecting Main Street. Bold action is required before there is further erosion of confidence.''
What a bunch of Whiny baby's right?.... They don't know anything about buisnsess..... It's all these Wall Street Fat cats...this is good for the economy..... Right?
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