Sep302008
Obama will use local econo-expert; Hodes listens for ideas
Filed under Uncategorized by kevin landrigan at 5:05 pm
Democrat Barack Obama’s presidential campaign was anxious Tuesday to send the message that the Illinois senator wants a solution to the stalemate over a Wall Street bailout soon.
That’s why he will dispatch Whittemore School Professor and New England Economy Project chief Ross Gittell to warn New Hampshire citizens that even though the trickle down of the credit vice hasn’t fully hit the local market, it’s only a matter of time if Congress continues to keep fumbling this one.
Gittell does a conference call with Obama economic experts Wednesday morning.
Meanwhile, New Hampshire Democratic Congressman Paul Hodes said that leaders of the state community banks and credit unions assured him that while there was a sense of urgency, the area lenders are not in the “crisis mode here just yet.”
Hodes and fellow, first-term Rep. Carol Shea-Porter, were among the 95 Democrats who opposed the bill. Hodes noted that New Hampshire Republican Senator Judd Gregg, a lead negotiator on the asset buyout plan, had described it as a tourniquet to be applied to a seriously ill patient.
“I am afraid it is more like a band-aid without a lot of stickem,” Hodes quipped.
While back in the district for the Rosh Hashana holiday, Hodes said he’s met with accountants, economist, professors, lawyers and Wall Street financeers.
“I am working to get my ideas in a form I can communicate them along with my concerns in a comprehensive way,” Hodes explained. “We need to do something but we need to do it right.”
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